Every little helps

MORTGAGE REPOSSESSIONS rose by 65% last year with 17,000 losing their homes, according to new figures from the Council of Mortgage Lenders (CML) this morning.

Although, it says the rate of increase slowed slightly in the second half, the CML is predicting further rises to 19,000 in 2007 and 20,000 as interest rate rises bite.

A Repossession Risk Review, also published today, shows that London has seen the biggest increase in possession actions.