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Mortgages: Repossession Orders

Volume 488: debated on Tuesday 24 February 2009

To ask the Chancellor of the Exchequer which 10 financial providers made the highest number of repossessions of homes for reasons of mortgage arrears in the last 12 months; and if he will make a statement. (256350)

The Government do not hold these data. The Council of Mortgage Lenders (CML) publishes the total numbers of properties taken into possession in the UK, available at:

http://www.cml.org.uk/cml/statistics

As announced in the pre-Budget report, the Government have established a new lending panel, which will improve monitoring of lending to households and businesses, as well as drive up best practice across the mortgage market and promote awareness of initiatives to support households against repossessions.

The major mortgage lenders on the panel have agreed to a moratorium on repossessions—committing not to repossess for at least three months after an owner-occupier falls into arrears. Some mortgage lenders have now gone further, and committed not to repossess for at least six months after an owner-occupier is in arrears. The Government welcome such moves.