The Council of Mortgage Lenders has just distanced itself from the 75k figure which has rapidly taken hold in the media. It is a totemic number, as it is almost exactly the peak of the last recession: in 1991.
It’s not an official estimate though, contrary to numerous reports. The CML is predicting 45,000 repossessions this year. As for next year, it tells me: “It is not our forecast, it is very unlikely to be our forecast, we are putting out the new figure next week.” Read more