|CCR Magazine Latest Issue December 2013|
Welcome to December's edition of CCR.
For some time now, government has been calling for lenders, of all
kinds, to show restraint and proportion in their collections activity.
On the whole, this has been a challenge that the industry has taken to
with determination and significant success, and, last month, it was the
mortgage industry’s turn to show out the results of the work being done
to help troubled customers.
The repossession rate also fell from 0.07% in the second quarter to 0.06% in the third quarter, its lowest level since the CML began publishing quarterly data at the beginning of 2008. At 7,200, the quarterly number of repossessions was also the lowest since quarterly data began – down from 7,600 in the second quarter and 8,200 in the third quarter of last year.
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