Tuesday, Oct 28, 2008
House prices down - repossessions up
BBC: Repossession total 'is up by 71%'
The number of people losing their homes after failing to meet their mortgage repayments climbed sharply, says the UK's financial watchdog. The number of repossessions in the second quarter of the year was up 71% compared with the same period a year earlier, at 11,054. The Financial Services Authority said the number of consumers struggling to clear their home loan arrears was up. This comes after the Bank of England predicted more woe for homeowners.
Posted by jack c @ 11:03 AM (309 views) Add Comment
2 Comments
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1. malct said...
Just how newscasters, anybody, can present details of families facing neg eq and eviction alongside a £5trillion bank bailout is beyond my comprehension.
How 'we the people' can be so complacent is explanable but very sad.
2. Fjcruiser said...
when is the BOE gonna cut those rates ? They are still in denial. I used to say, if you cannot get a job in a bank, you ll get one at the FSA or the BOE.Rhose blue strippy suit do my head in.