The body expects that repossessions will rise from 37,000 recorded cases this year to 45,000 in 2012, an increase of 22%.

That gain in repossession activity will be driven by growing levels of unemployment, and decreasing household income.

It will come as no great surprise that the Council has also cut its forecast in terms of property sales and mortgage lending levels next year.

The CML predicts that 825,000 homes will be sold in 2012, down from 850,000 this year.

Whereas mortgage lending for 2011 is set to hit an estimated £138 billion, the Council is now forecasting that this will decrease to £133 billion in 2012. While that doesn’t sound like much of a slump, it’s not so good when you consider that previously the CML had estimated a rise to £150 billion next year.

According to Bob Lender, “There just isn’t much good news for the housing market, with mortgages for first-time buyers continuing to be tricky to obtain regardless of the very low level interest rates have been held at.”

As listed in their press release:

Three year fixed rate available from 4.44% (up to 60% LTV) and four year fixed rate available from 4.94% (up to 70% LTV)

• New customers can borrow up to 85% LTV
• Existing borrowers who are moving home can borrow up to 95% LTV
• £99 booking fee (payable upfront and non-refundable)
• £896 reservation fee
• Special offer (see details above) available to first time buyers

Two year tracker available from 3.48% (up to 70% LTV) – NEW PRODUCT

• New customers can borrow up to 80% LTV
• Existing borrowers who are moving home can borrow up to 95% LTV
• £99 booking fee (payable upfront and non-refundable)
• No reservation fee
• Special offer (see details above) available to those moving home

For those switching at the end of an existing Nationwide deal:
Two year fixed rate available at 3.79% (up to 95% LTV)

• Existing borrowers switching at up to 95% LTV
• £495 reservation fee

Three year fixed rate available at 4.64% (up to 95% LTV) - NEW PRODUCT

• Existing borrowers switching at up to 95% LTV
• No reservation fee

Two year capped tracker available from 2.99% (up to 95% LTV)

• Existing customers switching at the end of a Nationwide deal at up to 95% LTV
• £999 reservation fee on loan sizes up to £149,999
• Capped at 3.99%
• Also available at 3.14% with a £1,499 reservation fee on loan sizes between £150,000 and £500,000, capped at 4.14%

Three year capped tracker available at 3.99% (up to 95% LTV)

• Existing customers switching at the end of a Nationwide deal at up to 95% LTV
• £699 reservation fee on loan sizes up to £149,999
• £1,499 reservation fee on loan sizes between £150,000 and £500,000
• Capped at 4.99%