The year 2000 saw the number of properties repossessed by mortgage lenders fall to its lowest for more than a decade, finds the Council of Mortgage Lenders (CML).
The number of properties taken into possession during the second half of 2000 was 10,270, a fall of 17% on the first half of the year, while the total for the year was 22,610, a 25% decrease in 1999, and the lowest since 1989.
There was also a decline in the number of borrowers with mortgage arrears on their properties.
He succeeds Philip Williamson, the retail operations director of the Nationwide Building Society.
Mike Ellis, chief operating officer of Halifax, will continue as one of the two deputy chairman for a second year, and Andrew Pople, managing director, retail banking, of Abbey National, becomes the other deputy chairman.