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Mr_Sminty

Repossessed Houses

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Okay if theres going to be a steady stream of repossessed houses over the next few years

a)how do the banks sell them, use agents? Show a "bargains" list to people taking out mortgages? In house/external auction?

b)how do banks value a house? If I lend 100k to Mr A, with fractional banking the real cost to me is what say 10k lent plus a few k overheads. The interest of whatever say 150k is lost, what am I looking to recoup the 100k? The 10k plus costs? Prevlant market value?

Any former bankers like to reveal such secrets!

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Okay if theres going to be a steady stream of repossessed houses over the next few years

a)how do the banks sell them, use agents? Show a "bargains" list to people taking out mortgages? In house/external auction?

b)how do banks value a house? If I lend 100k to Mr A, with fractional banking the real cost to me is what say 10k lent plus a few k overheads. The interest of whatever say 150k is lost, what am I looking to recoup the 100k? The 10k plus costs? Prevlant market value?

Any former bankers like to reveal such secrets!

Most Banks have links to Estate Agents anyway, e.g. Halifax, Woolwich, so they will just sell them though those branches.

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Mr Sminty

I have joined this website - its very good and they update and send out email alerts to all Repos in the UK - www.repossessedhousesforsale.co.uk It cost me £50 for 1 year plus at the moment 1 year free. – I Recommend it. – Have a look see what you think – Good Luck!

:D

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Mr Sminty

I have joined this website - its very good and they update and send out email alerts to all Repos in the UK - www.repossessedhousesforsale.co.uk It cost me £50 for 1 year plus at the moment 1 year free. – I Recommend it. – Have a look see what you think – Good Luck!

:D

Mr S, have you actually gone to watch houses found on this site sell at auction? How accurate is the guide price these days?

I just fear parting with 50 quid to get old useless data.

Thanks,

James.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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