According to the latest data from the Council
of
Mortgage Lenders, the level of
mortgage arrears in the UK
mortgage market fell slightly during the second quarter of the
2009. The number of
mortgages in arrears by at least 2.5% of
mortgage balance is a little over 200,000.
However, the figures also showed that the number
of mortgages in
arrears by over three months has increased somewhat. The head
of policy at the CML, Jackie Bennett, reportedly commented:
With
unemployment rising and the economy still weak, the outlook
will remain challenging for the rest of this year and into 2010.
But [the] data shows that
lenders are committed to helping
borrowers manage their way through temporary payment problems
and get
their mortgage back on track over time, avoiding possession
where possible.
Despite the positive picture painted by the mortgage arrears
figures, it is clear that many
UK borrowers are still finding it hard to make repayments
.
