Lamport Bassitt Solicitors - Legal News - House repossessions to rise in 2012, warns CML


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS House repossessions to rise in 2012, warns CML Litigation and dispute resolution in the property sector could increase next year as the Council of Mortgage Lenders (CML) predicts repossessions will increase in 2012. The lending body warned that house repossessions will increase from around 40,000 this year to over 45,000 in 2012. This compares with 36,000 in 2010. In terms of mortgage arrears, however, the CML does not forecast a major deterioration. The number of people in arrears will increase only slightly, from 170,000 in 2010 to 180,000 in both 2011 and 2012. "Lenders will continue to work with borrowers, debt advisers and the government to manage arrears but ... there will inevitably be cases where it is not possible to recover the situation, and where possession remains the only realistic option," the CML said in its updated forecast. Meanwhile, the CML reports that residential property conveyancing activity increased during April. Loans advanced for house purchases rose from 37,900 in March to 40,900 in April. Posted by Georgina Price Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 17/4/2012 - Further regulation to encourage family mediation: justice minster 2/4/2012 - Fuel tanker driver dispute talks scheduled for Wednesday 23/3/2012 - Landowners urged to take more responsibility for falling trees 22/3/2012 - Justice reforms move a step closer More Dispute Resolution News