The number of homes repossessed during 2009 reaches a 14 year high.

Mortgage lenders took 10,200 properties into possession in the fourth quarter of 2009 - 13% lower than in the third quarter, and 2% down on the fourth quarter of 2008, according to the Council of Mortgage Lenders.

This figure reflects the number of possessions taken by first charge lenders on both home-owner and buy-to-let mortgages.

In 2009 as a whole, this brought the total number of possessions to 46,000. Although this was lower than the CML's most recent forecast of 48,000, and significantly fewer than the 75,000 forecast at the start of the year, it is still 15% higher than the 40,000 in 2008 and the highest since 1995.

Council of Mortgage Lenders

Debtwizard says they should be higher

With many home owners struggling to meet their mortgage repayments it is hardly surprising to see that repos are still high, 46,000 or so for 2009, according to the Council of Mortgage Lenders (CML). In fact I think the number, in reality, should be higher!

Although the statistics are collected correctly by the Council of Mortgage Lenders (CML) and the Ministry of Justice (MoJ) in my view they do not accurately reflect current market conditions and I believe the problem is far greater than it appears.

Looking  at the broader picture and I can  offer some very valid reasons why figures are nearer to those of the last big house recession back in 1991 when 76,100 homes were repossessed.

You can read my thoughts on my blog at House repossessions - look though the smoke and mirrors