Lenders take lenient stance

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Repossessions hit a four-year low of 36,200 last year, as record low interest rates and a lenient stance from lenders helped keep people in their homes, the Council of Mortgage Lenders said, but job losses and inflation pressures are likely to see a 25 per cent rise in repossessions to 45,000 in 2012.

Paul Smee, director-general of the CML, said: "There will be a higher number of people facing more serious problems in 2012."