Wednesday, Jun 07, 2006

Repossessions at 14 year high

Firstrung: Repossessions have risen to their highest level in 14 years

Whilst not at the horrendous levels of the early nineties this spike in repossessions, given how compliant most lenders now are, should be of grave concern. However, as news it appears to be conveniently airburshed from mainstream sources...

Posted by Converted Lurker @ 11:06 AM (514 views)
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1. denzil said...

A few weeks back I commented of three sales due to "distressed" sellers and said it may just be coincidence. This week 2 more have been drawn to my attention, one is a failed BTL. All five are in close proximity.

Wednesday, June 7, 2006 11:25AM Report Comment

2. Sloth said...

My Landlord just put ALL their properties up for sale. I think they have a few cashflow problems. I also think they are emigrating once they are sold.

A sign of the (future) times.

Wednesday, June 7, 2006 12:38PM Report Comment

3. tyrellcorporation said...

Some landlords are very canny. I can remember being a student in Exeter in 1990. My landlord sold 7 properties at the market peak and then emmigrated. He made a couple of million quid - just before the crash...jammy eh!

I am also witnessing large stocks of student accomodation coming onto the market down here. Typically large victorian terraces that have had the guts ripped out of them by students and landlords for decades. They are being bought ostensibly by White-flighters, Yummy mummies & Soho dads from London who buy them at top-whack and then throw another 300k at a refurb... oh, and pop down to the Porsche garage too with their loose change!


Wednesday, June 7, 2006 02:39PM Report Comment

4. Dadm said...

I was overhearing an Estate agent in a small Lincolnshire market town saying that nothing is selling and "if someone came through with cash at the moment, we would take their hand off"...

The first signs of a bubble bursting will be when Estate Agents start to go bust.

I for one, will not be upset at this scenario.

Wednesday, June 7, 2006 04:24PM Report Comment

5. tyrellcorporation said...

...I'd hold a street party and you're all invited! :)

Wednesday, June 7, 2006 06:40PM Report Comment

6. Thebritishbrickie said...

i think a lot of 2/3 year intruductory rates are now jumping up 2%, which is a lot 4.5% to 6.5% is big bucks

Wednesday, June 7, 2006 10:54PM Report Comment

7. Thebritishbrickie said...

i think a lot of 2/3 year intruductory rates are now jumping up 2%, which is a lot 4.5% to 6.5% is big bucks

Wednesday, June 7, 2006 10:55PM Report Comment

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