Arrears and repossessions fall in Q1

According to the CML, the total proportion of loans with arrears equivalent to 2.5% or more of the mortgage balance was 2.38%. This is down from 2.52% in the previous quarter and 2.81% in Q1 2009. The number of mortgages in arrears was down from 206,800 at the end of Q1 2009 and 196,400 at the end of last year to 186,300 at the end of Q1 this year. Repossessions as a proportion of all mortgages remained steady at 0.09% in Q1, the same proportion as the previous quarter and down from 0.12% in Q1 2009. The number of repossessions was 9,800, down from 10,600 in the previous quarter an...