Friday, February 8, 2008

Like the 90’s all over again…….

Home repossessions rise to 27,000

The number of people whose homes were repossessed last year has risen by 21%. The Council of Mortgage Lenders said 27,100 homes, the highest figure since 1999, were taken over by lenders after people fell behind with repayments.

Posted by hpwatcher @ 09:52 AM (457 views)
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4 thoughts on “Like the 90’s all over again…….

  • Nothing to crow about here… Very sad I think..

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  • FUN FUN FUN

    Keep it comming.

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  • Hurry_up_and_crash says:

    The actual figure would be higher. In the last few years there has been growth in companies buying house at knock down prices and renting back to vendors. If the ‘tenents’ then go on to default and get evicted it doesn’t show as repossession, but in reality it’s the same. Couldn’t afford teh mortgage.

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  • This does make me sad. Not nice for families to lose homes. Lets hope the majority are BTL. Yesterdays live auction was interesting. I counted about 50 with sellers details which were banks/mortgage companies. HBOS had loads. (although a good deal of properties listsed didn’t have seller details? Why is this?)

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