The number of home repossessions in the UK rose by 30 per cent in the first six months of 2007, the Council of Mortgage Lenders (CML) has reported.

According to the organisation, the number of properties taken into possession came to around 14,000 over the period, an 18 per cent increase on the final six months of 2006 and a 30 per cent rise on the level witnessed in the same period in 2006.

However, the number of mortgages going into arrears so far this year stands at 125,100 which, although a four per cent rise on December's figures, is also three per cent down on the number for the first half of 2006.

Commenting on the latest statistics, Michael Coogan, director general of the CML, said: "The sharp rise in repossessions in the first half of this year has been driven by a combination of factors, but the absolute number of repossessions is still low by historical standards.

"Interest rates are clearly higher than many were expecting, and are set to remain so. And the greater risks inherent in sub-prime lending are resulting in significantly higher levels of repossession in that part of the market compared to mainstream experience."