Commenting on the Ministry of Justice and CML mortgage possessions data released last Friday, RICS chief economist Simon Rubinsohn said: "[The data] provides further evidence that government policies are working. Even before the introduction of Home Owner Mortgage Support and the bedding down of the Mortgage Rescue Scheme, the figures show that both the number of claims issued and orders made fell sharply.
“As these schemes begin to have a meaningful impact over the coming months, the likelihood is that the number of claims issued will continue to weaken. As a result, it now looks likely that the number of homes repossessed during the course of the year will fall some short of the widely projected estimate of 75,000. RICS estimates that the figure could be as low as 50,000, which would be someway below the highs seen in the early 1990s."
