The Council of Mortgage Lenders (CML) has published new guidance on mortgage arrears and possessions. The guidance suggests best practice which lenders can apply to their own policies and procedures, and serves as a practical guide to the requirements. It is not a rule book, rather a reference point to a lenders’ own selfassessment of their procedures and policies. Michael Coogan, CML’s director general, commented that although the repossession rate was at a “modest level,” there was a level of public concern: “The new guidance should help to reassure consumers that lenders are genuinely committed to seeing repossession as a last resort.” Shortly before the guidance was published, the government called upon mortgage lenders to show more leniency towards householders facing repossession as a result of the economic downturn. <br>