Mortgage arrears to rocket

According to recent reports the level of mortgage arrears in the UK is set to rocket, with some industry reports claiming that there could be a huge rise in the number of people in arrears in 2009 despite the aggressive base interest rate cuts that have been applied by the Bank of England. In fact, around half a million households are set to fall behind with mortgage repayments in the coming year according to the reports, which come from the Council of Mortgage Lenders. Read more

Tags: year's figure, mortgage arrears, council of mortgage lenders, mortgage, lending, top, intervention