THE vast majority of people who got into mortgage arrears during the past two years did not lose their homes, research showed.
Around 97% of homeowners who fell behind with their mortgage during the period did not have their property repos- sessed, according to the Building Societies Assoc- iation (BSA).
It found that a third of people who had got into problems had managed to repay their arrears in full, while 41% were currently repaying.
A further 12% of borrowers had come to an agreement with their lender but had not yet started to repay, and only 3% had had their home repossessed. People who contacted their lender promptly were the most likely to have got back on their feet.
