UK mortgage repossessions declined in first quarter, CML says

UK home repossessions declined 7.5% in the first quarter as record-low interest rates helped more households meet their mortgage obligations, the Council of Mortgage Lenders (CML) said. Banks repossessed 9,800 homes, down from 10,600 in the fourth quarter, the London-based group said in a statement on its website. The reading fell from 13,200 a year earlier.

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