Fewer homes repossessed due to low interest rates

Repossessed homes have fallen as UK interest rates remain manageable. Low interest rates have meant that borrowers can keep up with their monthly mortgage repayments. The rate of repossessed UK homes has fallen and mortgage holders have found it easier to meet their repayments due to low interest rates, according to the Council of Mortgage Lenders (CML). In the three months to October, 8,900 homes were seized, which is 5% lower than the figures revealed during the second quarter of the year.