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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

CML lowers repossession prediction

23/06/2009

The Council of Mortgage Lenders (CML) has lowered its prediction concerning the number of homes in the UK it expects to see repossessed this year.

Initially, the organisation had thought that around 75,000 residential properties would be repossessed. However, this figure has now been revised to 65,000.

In addition, the CML anticipates that around 360,000 mortgages will be in arrears by the end of 2009, which is equivalent to 2.5 per cent or more of the country`s mortgage balance.

The council`s forecast for gross lending remained unchanged at £145 billion for the 12-month period.

In a statement, the CML said: "The raft of measures taken by the authorities have stabilised the economy and will sow the seeds for a recovery over time, including in the housing market. But the improvement is likely to be slow and drawn out."

Recently, it was announced that the Treasury Committee is to undertake an inquiry into mortgage finance and arrears.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according