Mortgage arrears and repossessions data for the first half of 2008 from the Council of Mortgage Lenders (CML) shows the number of people falling into arrears at its highest since the first half of 2001, and repossessions at their highest level since 1996. CML reported 18,900 repossession cases so far this year in comparison to 13,400 in the second half of 2007, and 12,800 in the first half, putting the repossession rate at 0.16% – an increase from 0.11% in both the first and second halves of last year.<br><br>The total number of households with arrears of three months or more stood at 155,600 at the end of the first half of 2008, rising from 129,600 at the end of 2007 and 120,800 at the end of the first half. Michael Coogan, CML director general, insisted that the figures should be put into perspective: “The good news is that most people are coping well and continuing to pay their mortgages in full. It is inevitable that more borrowers’ coping strategies will come under pressure in current conditions than in the unusually benign years of the last decade.” Peter Williams, executive director of the Intermediary Mortgage Lenders Association (IMLA), commented: “This is …