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MORTGAGE ARREARS FALL

MORTGAGE arrears fell by four per cent in the first quarter of 2010 but the total value of outstanding loans has remained flat at £1,206bn, according to data from the Financial Services Agency published yesterday. The number of new advances was 22 per cent down on the previous quarter at £32bn. New possessions totalled 10,500 in the first three months of 2010, an 11 per cent fall on the previous quarter and the lowest for two years.