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CML survey shows 5 per cent fall in repossessions in 1998

The number of properties repossessed by mortgage lenders fell by 5 per cent in the second half of 1998


The latest Council of Mortgage Lenders figures show the number of repossessions dropped to 16,510 in the second half of the year from 17,310 in the first half.


But it says the total number of repossessions in 1998 increased by 3 per cent to 33,820 from 32,770 in 1997.


The number of mortgages more than 12 months in arrears fell to 34,880 at the end of 1998 from 45,200 at the end of 1997.

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