Repossessions rumoured to hit 75,000 in 2009

The BBC claims that the Council of Mortgage Lenders estimates that repossessions will hit 75,000 next year.

Its business editor Robert Peston says that he has been told that the CML was waiting to see what measures the government was looking introduce to help cash strapped homeowners before it published its estimate for the next year.

He claims that sources have informed him that one of the estimates was 75,000.

The CML’s estimate for 2007 is that there will 45,000 repossessions.

A spokesman for the CML says that there has been no direct communication with the BBC about the 75,000 figure.

But he says: “The CML has been having discussions with the government (about repossessions) dependent on the outcome of a range of policy decisions.”

These include decisions on an expanded safety net for borrowers experiencing a temporary loss of income to tomorrow’s interest rate decision.

But he says: “We haven’t told Peston anything – Peston has been told by other sources about the number.”