Monday, Aug 07, 2006

Houses at risk as rate of personal insolvency jumps

The Times: Houses at risk as rate of personal insolvency jumps

FEARS that the surprise interest rate rise this week could tip thousands of debt-laden households over the financial brink were stoked yesterday by figures indicating that one person is buckling under the strain of excessive borrowing every five minutes.

I'm lovin' it....

Posted by onyerhike @ 09:14 AM (423 views)
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3 Comments

1. Stevo said...

"A survey this week by Thomas Charles, a debt consultancy, suggested that more than a million Britons believed they were on the edge of bankrputcy."

Is it really this bad ????

If so then we haven't seen anything yet.

Monday, August 7, 2006 01:02PM Report Comment
 

2. talking rot said...

Compare this article to one of the ones above: "Record increase in house hunters points to further price increases." How can prices be rising when this article reports " ... further figures suggesting a leap in numbers losing their homes because of financial stress. " Clearly some one is not telling the whole truth here.

The bottom line is: Does an IVA lead to a home being repossessed and sold, by the mortgage firm, on the open market? If so, then we should be seeing an increase in the number of homes for sale. If not, and the indebted can continue to live in their home, then the supply of housing onto the market will not drastically change. Any clues anyone?

Monday, August 7, 2006 02:29PM Report Comment
 

3. inbreda said...

I don't think an IVA can lead to a repossession.

It is also possible that repossessions are auctioned or in some other way kept 'off the books'

Just suggestions

Monday, August 7, 2006 04:37PM Report Comment
 

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