Data from the Council of Mortgage Lenders has revealed there were an astonishing 18,900 cases, during the first half of 2008, where lenders had to repossess borrower’s properties, compared with 12,800 during the first six months of 2007.

The CML claims the data shows no surprises and maintains its forecast of 45,000 total possessions and 170,000 mortgages in arrears of more than three months by the end of the year, although it says these numbers remain extremely small when seen in the context of the 11.74 million mortgages in the UK.

The above figures relate to first mortgages, not to other consumer loans secured on people’s homes. Michael Coogan, director-general of the CML, says: “The number of people facing difficulty needs to be kept in perspective. The good news is that most people are coping well and continuing to pay their mortgages in full.”