August 3, 2007
A rise of 30% in Home repossessions
There has been a marked increase in the repossession of houses according to the Council of Mortgage Lenders (CML). It was revealed that there has been an estimated 14,000 properties were repossessed in the first six months of the year, which is where the 30% increase on last year comes in.
There are even more concerns, such as the amount of people with mortgage arrears is running at around 125,000, but this is down 3% on the same time last year. But with 30,000 homes being repossessed then I suppose it is going to be down as there are less people with arrears.
With interest rates being at the level that they are and possibly rising then this is only going to be a sign of times, and maybe even get worse before it gets any better.
Source [BBC News]
Add to Bookmarks:
Related stories to A rise of 30% in Home repossessions
Next: Finding student accommodation »
Visited 69 times, 1 so far today
Comments
Leave a Reply