According to recently released figures homeowners in the UK have reduced their overall mortgage debt by an impressive £8 billion, even though the financial crisis continues and the country is plunged into recession.

Recently released figures have suggested that the fall in house prices has now resulted in over one million homeowners being plunged into negative equity.

Last year the Council of Mortgage Lenders predicted that the number of repossessions in the UK could reach as many as 75,000 over the course of this year, which is a worrying figure in itself.

With the downturn in the economy that has thrown markets all over the world into a slump in recent months, the number of homes being repossessed by lenders is increasing at a rapid pace.

Over the past year many homeowners have lost their homes to repossession as a result of falling behind on mortgage repayments as credit conditions have become more difficult and living costs have soared. With the financial markets and the housing markets in their worst state in decades the government has decided to take action and [...]

There have been some very worrying reports over recent months about the level of repossessions expected in the UK. According to recent reports the number of people facing repossession has risen by 20% in the past year, and the Council of Mortgage Lenders recently announced that the number of people that lose their homes through [...]

Homeowners, many of whom are already struggling to try and keep up with mortgage repayments despite the recent interest rate cuts, are facing a real struggle when it comes to coping with their finances according to a recent report, with many expecting to face difficulties in coping financially due to strained household finances. The report [...]

Awareness over Individual Voluntary Arrangements, or IVAs, has increased over the last couple of years, with a number of firms putting out advertisements relating to this type of debt solution. An IVA is known as a softer alternative to bankruptcy and is designed to help those in high levels of unsecured debt to get out [...]

Secured loans are loans that are aimed at homeowners with some level of equity in their homes. Equity is the difference between the market value of your property and the amount that you owe on the property by way of mortgage or other secured loans. Unlike an unsecured loan these loans are secured against the [...]

Homeowners that have entered into an IVA, or Individual Voluntary Arrangement, could face soaring interest charges on their mortgage as the result of a clause in the agreement that requires them to use the equity in their home to put towards their debts. An IVA is known as a softer alternative to bankruptcy, and those [...]

According to industry professionals many homeowners with their properties up for sale are now struggling to actually find a buyer for their home because they are refusing to be flexible on price. A flurry of homeowners are trying to sell up before the property price fall that has been predicted comes to fruition, but because [...]

A secured loan is a loan that is secured against the equity in a property, and as the name suggests, these loans are available to homeowners with some level of equity in their property. With equity levels rising at remarkable levels over recent years, as property prices have rocketed in the UK, homeowners have found [...]