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Repossessions of homes still low

Home repossessions have remained near five-year lows as record-low interest rates help owners stay in their homes.

While repossessions went up slightly in the first three months of the year to 8,000 from 7,700 in the previous quarter, it was the second-lowest quarterly figure since the winter of 2007. The Council of Mortgage Lenders said the repossession rate remained at 0.07%, as fewer than one in 4,000 properties were taken into possession by lenders.

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