The amount of homes in the UK that are being repossessed fell 9% in the three months preceeding June in comparison to the previous quarter, the Financial Services Authority (FSA) announced.
The total number of repossessions fell by 1,274 to 13,610 according to the FSA´s quarterly report on the mortgage lending climate.
The total number is still 23% greater than a year ago, but the FSA commented that "the sharply rising trend evident up to the third quarter of 2008 has stabilised in the last three quarters."
The FSA cites that the change is partially to the Ministry of Justice initiating more obstacles to banks taking houses from owners who have failed to keep up with mortgage repayments.