View more on these topics

Repossessions fall to 10-year low

House repossessions have fallen to the lowest level for more than a decade, according to figures from the Council of Mortgage Lenders.

Repossessions in the first six months of this year tot-alled 12,340, down by 9 per cent from 13,620 in the second half of 1999.

Compared with the first half of 1999, the number of properties taken into possession was down by almost 25 per cent.

The CML figures also show a fall in the number of borrowers with long- and medium term arrears.

Borrowers with long-term arrears of more than 12 months dropped by 23 per cent to 22,600 from 29,520 while those with medium-term arrears between six and 12 months were down by 16 per cent to 47,980 from 57,110.

However, the CML is warning that the abolition of mortgage interest tax relief and interest rate rises earlier this year will have already put extra pressure on some household budgets.

It says borrowers should consider whether they need the extra security offered by mortgage payment protection insurance.

Deputy director general Peter Williams says: “These figures are clearly very welcome both to borrowers and lenders. The sharp fall in repossessions reflects the strength of the economy and the housing market as well as the clear commitment of lenders to sustain people in their homes wherever possible and to seek repossession only asa last resort.”


The FSA is polarised over polarisation

The FSA is understood to be deeply divided on the issue of polarisation, with the regulator split into two camps fighting over whether polarisation should be scrapped or not.Heated discussions are believed to have taken place following the publication of the FSA-commissioned study on polar- isation by London Economics last month.Those at the regulator in […]

Don&#39t be misled by the headlines

With-profits bonds have been one of the great success stories of the life insurance industry over the past decade. Sales have boomed, the bonds have produced good returns and, as a result, offices will rarely, if ever, have applied a market value adjustment.The product meets a real need by offering the more cautious customer the […]

MPs are asking for more from orphan assets

The Government is being urged to levy a 33 per cent windfall tax on orphan assets by a group of backbench Labour MPs.The call comes in the wake of the decision last week by Axa to distribute part of its orphan assets to with-profits policyholders.Seven Labour backbench MPs have tabled a motion which calls upon […]


Virgin may have its faults as far as the IFA community is concerned but it cannot be faulted on enthusiasm.Virgin One&#39s managing director Jayne-Anne Gadhia says her boss Richard Branson often rings before sixin the morning or after 11 at night to discuss his latestbusiness idea.And now, unlikely as it may seem, Virgin is set […]

Finding value in UK equities

By Mark Martin, Investment Director & Head of UK Equities Register for a live update on 9 July at 14.30 with Mark Martin, who will be discussing Chancellor George Osborne’s ‘emergency’ summer budget, the UK equity landscape post May’s General Election and his outlook for the second half of 2015. Mark will also highlight the […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm