Repossessions have risen by 3% compared to previous quarter, but due low interest rates repossessions is 27,000 lower than predicted by the Council of Mortgage Lenders.

The FSA report revealed over 13,987 properties were repossessed in the 3 months to September, which is 6% lower than this year.

They also divulged how 46,000 people have gone into arrears by at least 1.5%.  These figures are lower than the last quarter.

Reductions in repossessions suggest more is being done to help people struggling to make mortgage payments. This is not the case.

Citizens Advice Bureau etc all report that lenders should do more to help their applicants or more families will risk of repossession.

They revealed that a third of cases show lenders failing to adhere to new rules where repossession is a last resort. Lenders are ignoring this and are repossessing to help regain losses.

In many instances they are not offering homeowners any help at all…

Low interest rates may not be enough to save people from repossession.  Many people have also obtained a good price buying one of the many repossessed houses for sale.