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Repossession - Doubled In Barnet, Herts & Enfield, Middx

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Repossession rate doubles in Barnet http://icnorthlondononline.icnetwork.co.uk...-name_page.html

Sep 13 2007

HOUSING repossessions in Barnet have more than doubled, as more and more people are failing to keep ...

Record numbers lose their home http://icnorthlondononline.icnetwork.co.uk...-name_page.html

Aug 29 2007

STRANGLING interest rate rises have caused the number of house repossessions to double in Enfield.

(Source: PRESS Newspaper - North London & Herts Newspapers Ltd)

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Repossession rate doubles in Barnet http://icnorthlondononline.icnetwork.co.uk...-name_page.html

Sep 13 2007

HOUSING repossessions in Barnet have more than doubled, as more and more people are failing to keep ...

Record numbers lose their home http://icnorthlondononline.icnetwork.co.uk...-name_page.html

Aug 29 2007

STRANGLING interest rate rises have caused the number of house repossessions to double in Enfield.

(Source: PRESS Newspaper - North London & Herts Newspapers Ltd)

A friend of mine works for a very large managing agent of flats for a freeholder in South London. He was saying that they have seen more repossessions in the last year than in the previous three years put together. But what I found interesting was that the lenders who had repossessed were in the majority of cases the fringe lenders, Preferred Mortgages, Kennington and Birmingham Midshires and almost all were to BTL investors. He also said that the BTL investors were also as a group the worst payers of ground rent and service charges, however it was also true some of the most prompt payers were BTL as well, in other words they were either in one group or the other not in the middle ground. Owner occupiers still tended to pay reasonable well still although they had to offer increasing number of payment plans.

They also provided leasehold information when a flat is being sold and the proportion of those that related to lessees who let was considerably higher than average he said something like 75% related to BTL investors when BTL represented say 30% of all lessees.

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A friend of mine works for a very large managing agent of flats for a freeholder in South London. He was saying that they have seen more repossessions in the last year than in the previous three years put together. But what I found interesting was that the lenders who had repossessed were in the majority of cases the fringe lenders, Preferred Mortgages, Kennington and Birmingham Midshires and almost all were to BTL investors. He also said that the BTL investors were also as a group the worst payers of ground rent and service charges, however it was also true some of the most prompt payers were BTL as well, in other words they were either in one group or the other not in the middle ground. Owner occupiers still tended to pay reasonable well still although they had to offer increasing number of payment plans.

They also provided leasehold information when a flat is being sold and the proportion of those that related to lessees who let was considerably higher than average he said something like 75% related to BTL investors when BTL represented say 30% of all lessees.

Thank you for that very interesting stuff, Numpty. Much appreciated. :)

( btw Lulu if you're reading, please don't be concerned I'm online again - I have been out today: a drive of 15 miles and then a walk of 4 miles in the Herts countryside! :D )

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