It has been reported recently that some lenders in the UK could face questioning from MPs next month over two issues that have been at the forefront of the news for some time, and this includes the rising levels of repossessions in the UK and the plunging levels of home loans available to consumers. (more…)
Posts Tagged ‘repossessions’
MPs could cross examine lenders over repossessions and home loans
Friday, July 10th, 2009
Increase of two thirds in home repossessions
Friday, April 10th, 2009Figures from the Financial Services Authority have shown that over the course of 2008 the level of home repossessions increased by around two thirds, as an increasing number of homeowners struggled to keep up with their mortgage repayments in the difficult financial climate. (more…)
Analysts predict a greater number of repossessions this year
Thursday, March 5th, 2009Last 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. (more…)
Increasing Numbers of Home Repossessions
Saturday, February 28th, 2009With 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. (more…)
92% increase in home repossessions in one year
Sunday, February 8th, 2009During the third quarter of last year the number of people that were losing their homes nearly doubled, according to recent reports. (more…)
More help to be offered to homeowners facing repossession
Monday, June 2nd, 2008There 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 repossession could rocket to 53,000 over the course of this year – a stark increase compared to its original prediction of around 45,000. (more…)
Repossession levels have continued to rise
Saturday, May 31st, 2008A recent report has shown that the number of people in the UK who are at risk of losing their homes through repossession has rocketed by nearly 20% in the past year. Homeowners have been hit with a variety of rising costs over recent months, which have seriously affected the ability of many homeowners to keep up with their mortgage repayments. Many homeowners began struggling nearly two years ago, when interest rates started to rise thick and fast, taking the base rate from 4.5% to 5.75% in under one year. (more…)
Repossession – How and Why
Friday, March 16th, 2007Beware, the Repo man
Your home is the security the lending company holds in case you stop making repayments into your mortgage. The worst that can happen is, they will repossess you house. But why does this happen? (more…)
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