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03/08/2007
Report Reveals Home Repossessions Rise By Third
A report has revealed the number of repossessions has risen by almost 30% in the first half of this year.
The Council of Mortgage Lenders (CML) said an estimated 14,000 properties were repossessed in the first six months of 2007.
However, the number of mortgages in arrears totalled at 125,000, which is down 3% on the same period last year.
CML Director Michael Coogan said: “The sharp rise in repossession in the first half of this year has been driven by a combination of factors. Interest rates are clearly higher than many were expecting, and are set to remain so.
“And the greater risks inherent in subprime lending are resulting in significantly higher levels of repossession in that part of the market compared to mainstream experience.”
Mr Coogen also added that repossessions were still low by historical standards.
He said: “Overall, the vast majority of mortgage borrowers will continue to cope, even in a market where affordability is stretched.”
These figures come as the Government’s Insolvency Service reported that the number of people going bust actually dropped 8% in the second quarter of this year, compared to the first three months.
(JM/SP)
The Council of Mortgage Lenders (CML) said an estimated 14,000 properties were repossessed in the first six months of 2007.
However, the number of mortgages in arrears totalled at 125,000, which is down 3% on the same period last year.
CML Director Michael Coogan said: “The sharp rise in repossession in the first half of this year has been driven by a combination of factors. Interest rates are clearly higher than many were expecting, and are set to remain so.
“And the greater risks inherent in subprime lending are resulting in significantly higher levels of repossession in that part of the market compared to mainstream experience.”
Mr Coogen also added that repossessions were still low by historical standards.
He said: “Overall, the vast majority of mortgage borrowers will continue to cope, even in a market where affordability is stretched.”
These figures come as the Government’s Insolvency Service reported that the number of people going bust actually dropped 8% in the second quarter of this year, compared to the first three months.
(JM/SP)
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08 February 2008
Home Repossessions On The Rise
The number of people whose homes were repossessed last year rose by more than 20%, according to the latest figures released by the Council of Mortgage Lenders. The new figures showed that 27,100 homes were taken over by lenders in 2007 after people fell behind with repayments - the highest figure since 1999.
Home Repossessions On The Rise
The number of people whose homes were repossessed last year rose by more than 20%, according to the latest figures released by the Council of Mortgage Lenders. The new figures showed that 27,100 homes were taken over by lenders in 2007 after people fell behind with repayments - the highest figure since 1999.
15 May 2009
75,000 Repossessions This Year 'Now Looks Pessimistic'
There were 12,800 repossessions by first-charge mortgage lenders in the first quarter of this year, according to the Council of Mortgage Lenders (CML). This compares with 10,400 in the fourth quarter of last year, and 8,500 in the first quarter of 2008.
75,000 Repossessions This Year 'Now Looks Pessimistic'
There were 12,800 repossessions by first-charge mortgage lenders in the first quarter of this year, according to the Council of Mortgage Lenders (CML). This compares with 10,400 in the fourth quarter of last year, and 8,500 in the first quarter of 2008.
21 November 2008
Home Repossessions On The Rise, CML Reveal
The number of homes repossessed by mortgage lenders has risen by 12% to 11,300 in the last three months, new figures have shown. The Council of Mortgage Lenders (CML) also said 1.44% of mortgages were at least three months in arrears as at the end of September 2008.
Home Repossessions On The Rise, CML Reveal
The number of homes repossessed by mortgage lenders has risen by 12% to 11,300 in the last three months, new figures have shown. The Council of Mortgage Lenders (CML) also said 1.44% of mortgages were at least three months in arrears as at the end of September 2008.
20 February 2009
Home Repossessions Rise By Over 50%
The number of people losing their homes has risen by 54%, according to new statistics released today by the Council of Mortgage Lenders (CML). A total of 40,000 properties were repossessed last year, up from 25,900 in 2007.
Home Repossessions Rise By Over 50%
The number of people losing their homes has risen by 54%, according to new statistics released today by the Council of Mortgage Lenders (CML). A total of 40,000 properties were repossessed last year, up from 25,900 in 2007.
14 December 2010
Surveyors Report House Prices Falling
House prices slipped further in November, according to the latest RICS UK Housing Market survey. Some 44% more chartered surveyors reported prices fell rather than rose in November, a slight improvement on October's net balance of -49.
Surveyors Report House Prices Falling
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