The CML believe that many people struggling with mortgage repayment problems will be able to cope with finances and stay away from serious problems.
The group say that despite the credit crunch making things even more difficult for people than expected in 2008, many consumers should still be able to weather the storm.
Michael Coogan, director-general of the CML commented, "We continue to expect the absolute level of mortgage arrears and repossessions to remain low, as we forecast in October 2007."