The Centre for Economics and Business Research (CEBR) has warned that around 33,400 people could lose their homes this year, 23% more than 2007. Lastest mortgage offers will also remain expensive until the current economic situation settles down.
The CEBR predicted repossessions should stay well below the 75,000 a year levels seen in the early 1990s and the housing market will begin to recover in 2010 after interest rates fall as low as 3.5% towards the end of next year.
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