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Mortgage arrears 'fall in fourth quarter of 2009'
New figures have revealed that the number of mortgage arrears and possessions in the UK fell at the end of 2009.
The research by the Council of Mortgage Lenders (CML) revealed that the number of properties taken into possession during the fourth quarter of the year was 13 per cent lower than in the previous three-month period.
It also revealed that the number of mortgages with arrears fell by three per cent from the third quarter.
Michael Coogan, director general of the CML, said the falls were "testament to the effect of low interest rates".
He added: "We are not out of the woods yet - 2010 will still be a challenging year for many borrowers, and some households will inevitably find their finances being squeezed if and when interest rates do eventually rise.
"But borrowers should feel reassured that lenders want to help them keep their homes wherever possible."
Previous research by CML revealed that buy-to-let lending increased for the second consecutive quarter during the final three months of 2009.