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Realistbear

U K Mortgage Repossession 70% Higher Than 2004

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http://www.themovechannel.com/News/2006/February/3c.asp

03 February 2006

The number of properties taken into possession by mortgage lenders rose to 5,630 in the second half of 2005, according to figures released today by the Council of Mortgage Lenders.
This was 22% higher than the 4,620 in the first half of the year, but still extremely low by historical standards - the peak half-yearly figure was 38,930 in the second half of 1991.
The total number of repossessions in 2005 was 10,250. This was 70% higher than in 2004
- although still the third lowest annual figure since 1983.
The number of mortgages in arrears of 3-6 months rose to 59,700 - up 3% compared with the end of the first half of the year, and up 11% on the end of 2004.
The number of 6-12 month arrears cases rose to 32,470 - 3% higher than in the first half of the year, and 21% higher than at the end of 2004.
The number of mortgages more than 12 months in arrears rose to 13,820 - 10% higher than in the first half of the year, and 23% higher than at the end of 2004.

The CML have done a magnificent job in spinning the figures by stating that they are still low by historic standards but for all intents and purposes an increase of 70% should be sending out warning signals as the IO and low interest rate loans are just now coming home to roost as credit tightens and ref-financing becomes more difficult.

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The CML have done a magnificent job in spinning the figures by stating that they are still low by historic standards but for all intents and purposes an increase of 70% should be sending out warning signals as the IO and low interest rate loans are just now coming home to roost as credit tightens and ref-financing becomes more difficult.

And the historical comparison they choose is 2 years into the last crash. Presumably randomly selected,

Peter.

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  • 302 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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