CML reports repossessions stable, arrears falling

The number of repossessions in the first quarter of 2012 was 9,600, the same as in the first quarter of 2011, breaking the recent trend of year-on-year increases in repossessions, according to the Council of Mortgage Lenders. Repossessions in the first quarter were higher than the 8,700 that took place in the fourth quarter of [...]

Millions cutting back on fuel and food bills to pay mortgage

More than one in five people (22 per cent) have spent less on gas and electricity to help pay their rent or mortgage in the last 12 months, and just over one in three (34 per cent) have spent less on food, according to a new survey from Shelter. The results from the YouGov survey [...]

FSA publishes market review

The Financial Services Authority (FSA) has announced plans to prevent a return of the risky mortgage lending seen in boom times, by ensuring that what it describes as common sense standards continue to apply in future. The Mortgage Market Review aims to prevent a recurrence of the irresponsible lending, which resulted in some borrowers taking [...]

Property price reductions grow

The average property seller have had to reduce the asking price of their home by nearly £20,000 to secure a sale, according to new research from Zoopla.co.uk. Over 40 per cent of all UK properties currently on the market for sale have experienced at least one price reduction, as sellers try to entice buyers in [...]

Struggling borrowers ‘should seek help’ says Which?

With an estimated 14 per cent of borrowers struggling to make their mortgage payments, consumer group Which? has called on lenders to help their customers. Research from Which? shows that only a third of borrowers who are facing difficulties have contacted their lender for help even though there are a number of options lenders may [...]
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