UK home repossessions at 14-year high

The number of British people who lost their homes soared to a 14-year high during 2009, figures showed today.

Around 46,000 people had their property repossessed during the year, the highest level since 1995 and 15% more than in 2008, according to the Council of Mortgage Lenders.

But the figure was well down on the group’s original forecast that 75,000 people would lose their homes during the year, although this was revised down twice to 48,000 when the predicted flood of repossessions failed to materialise.