Guardian was buoyed by the CML revelation that there were 5,000 less repossessions in 2008 than it originally predicted.
However, other figures reporting that by the end of 2008, around 182,600 mortgages – or 1.57% of the total – had accumulated arrears equivalent to 2.5% or more of the outstanding balance, were of continued concern.
According to the CML these figures compared with 1.29%, or 150,800 at the end of the third quarter of 2008, and 1.08% or 127,800 at the end of 2007.
The report continued that on a monthly basis, 219,100 mortgages were in arrears of more than three months at the end of 2008, up from 166,600 at the end of the third quarter of the year, and up from 127,500 at the end of 2007.
David McCann, managing director at Guardian Debt Management, says: “Since the launch of the arrears helpline we have been inundated with calls from concerned consumers over the pressures being felt by growing numbers experiencing credit difficulties and through unfortunate job losses.
“Intermediaries remain in an ideal position to help clients with financial concerns and make it apparent that there is help available for even the most extreme cases. Being in a position to advise clients accordingly could provide a real opportunity to open up new income streams and the resultant referrals these bring with them.”