The number of homes repossessed falls during the first three months of 2010.

Mortgage lenders took 9,800 properties into possession in the first quarter of 2010; this is 7.5% lower than in the final quarter of 2009.

The figures were lower than the same period of 13,200 a year ago according to the Council of Mortgage Lenders (CML).

However the CML warns that many homeowners remained vulnerable to falling into arrears and that it may revise its forecast of 53,000 repossessions in 2010 provided there are no further economic shocks such as rising unemployment of higher interest rates.

Mike warns that we should not be too excited, as other factors could still spoil the party, more in his blog ; Falling repossession figures not painting the real picture