Thursday, April 28, 2011

Homes on a Knife edge

Banks expect increase in repossessions

The CML also expects a rise in the number of home owners who fall behind with their monthly mortgage payments from 169,000 in 2010 to 180,000 this year

Posted by happy mondays @ 07:52 AM (1516 views)
Please complete the required fields.



6 thoughts on “Homes on a Knife edge

  • Who was it that encouraged many of them to take out flippin’ 120% and 125% loans with 9X income?

    Sureley not members of the CML? … Nooo!

    But Myra isn’t mentioning the sensible mortgage owners who have been repaying lots of capital over the last 18 months. Doesn’t fit into the story?

    Reply
    Please complete the required fields.



  • Is the article saying people can no longer qualify for SMI as of April 21st? I thought it had been extended???

    Reply
    Please complete the required fields.



  • As they generally control repos, isn’t this a bit like saying
    “Farmers expect their turkeys to be killed by Xmas”

    Reply
    Please complete the required fields.



  • sibley's b'stard child says:

    RnR, i’ve just had a quick google on Ye Olde Worlde Webbe (copyright MW) and can’t find anything to back this up. The only significance to April 21st is that on that date 2009 six of the larger lenders pulled out of the scheme. As far as i’m aware, the maximum two year claim limit still applies:

    http://www.thisismoney.co.uk/mortgages-and-homes/tips-and-guides/article.html?in_article_id=465849&in_page_id=53957&in_advicepage_id=115

    http://www.dsdni.gov.uk/index/hsdiv-housing/hsdiv-mortgage-support.htm

    Reply
    Please complete the required fields.



  • SBC – that’s a nugget of a find, worthy of a thread in itself. Unlike us to have to learn this stuff from the MSM though! How much of an impact can so many big lenders acting together have?

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    I’ve a sinking feeling that what the headline really means is “Banks expect increase in repossessions… unless the government can find a few spare billion to keep bailing them out“.

    The banks could quite easily topple the govenment by repo’ing everybody in arrears, it makes for very unpleasant headlines and for some reason, people tend to blame the government of the day. So whether the government bails out banks, pays SMI, cuts council tax, makes little difference, they’ve got to keep the bubble going somehow.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>