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Thursday, U.K.'s Ministry of Justice said courts in England and Wales issued 42% fewer repossession orders in the fourth quarter of 2009 compared to the previous year. There were 16,928 mortgage possession claims led to orders on a seasonally adjusted basis, down 15% on quarter.
Courts suspended 46% of mortgage possession claims leading to orders in the fourth quarter. It compares with 45% in the fourth quarter of 2008 and 44% in the third quarter of 2009.
The ministry said 20,061 mortgage possession claims were issued on a seasonally adjusted basis, 26% lower than in the fourth quarter of 2008 and 15% lower than in the third quarter of 2009.
In a separate report, the ministry said there were 2,670 company winding up petitions in the final quarter of the previous year, a decrease of 21% year-on-year and 14% on the previous quarter. Creditors' petitions totaled 4,148, down 12% over the previous year and a 20% decrease on the previous quarter. Meanwhile, the number of debtors' petitions stood at 13,678. It represents a decrease of 11% year-on-year and a 16% fall on the previous quarter.
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