The number of homes repossessed in the UK declined by 5% in the last quarter, according to the Council of Mortgage Lenders (CML).

Lenders seized 8,900 homes in the three months to October - the fourth quarter in succession that these have declined.

The CML's figures showed that 176,100 mortgages had arrears of 2.5% or more of the outstanding balance - down slightly from 178,200 three months earlier and a fall from 203,800 a year earlier.

"Despite the severity of the economic slowdown and the likelihood of only a slow and protracted recovery, a combination of low interest rates and the commitment of borrowers, lenders, the government and debt advisers has helped to keep mortgage payments problems in check so far," said CML director general Michael Coogan.