A total of 8,000 homes were taken into possession in the first three months of this year, down from 9,600 in the first quarter of 2012, but up from the fourth quarter figure of 7,700 for last year.
Around 20% of the properties taken into possession during the first three months of this year were buy-to-let homes.
The rate of repossession was 0.07%, according to the Council of Mortgage Lenders.
It said this is the equivalent of fewer than one in 1,400 mortgaged properties being taken into possession by lenders each quarter.
Arrears also remain stable. At the end of the first quarter, some 159,800 mortgages had arrears equivalent to 2.5% or more of the mortgage balance. This number was equivalent to 1.4% of all mortgages – the same proportion both as the previous quarter and as the same quarter last year.
Within the total number of mortgages in arrears, 82,600 mortgages had arrears equivalent to 2.5% or more but less than 5% of the mortgage balance; 32,000 were in arrears equivalent to 5% to 7.5% of the balance; 14,900 7.5% to 10% of the balance; and 30,300 10% or more of the balance.
The CML is forecasting 35,000 repossessions in 2013, with 160,000 mortgages in arrears of 2.5% or more at the end of the year.
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