Home repossessions fall to 1990 levels
Thursday 30 January 1997
That is the lowest number since the first half of 1990 and less than half the peak in the second half of 1991 of 38,000.
But the CML warned that problems lurked in the pipeline, such as the prospect of higher interest rates which could jeopardise the improvement.
So could any further cuts in mortgage interest tax relief or in state support for mortgage interest payments during unemployment.
"Given the improved position, the CML hopes that whichever party forms the new government will not take any financial measures which might set back current progress by reducing the sustainability of homeownership for borrowers in difficulties," said Michael Coogan, director general of the CML.
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