18th May 2009
In the current economic climate, many people are struggling to pay off several large debts, with some barely affording to meet the minimum payments. The danger with this is that the minimum payment barely covers the monthly interest on a debt, meaning the...
05th May 2009
The credit crunch has had a significant effect on buy-to-let landlords over the past 12 months: the number of landlords accruing more than 3 months of arrears doubled in the second half of 2008, hitting an incredible 27000 - this figure was almost 4 times...
17th April 2009
The Council of Mortgage Lenders says the number of cases in arrears at the end of September 2008 was 168,000 – 8pc higher than the 155,600 in arrears at the end of June. They are expecting up to 170,000 arrears by the end of the year.
The CML also sa...
03rd March 2009
What is a House Repossession Notice?
The first time you go to court, you’ll find out whether or not your lender has succeeded in taking out a house repossession notice, or house repossession order, on your home. Luckily, courts rarely grant repossess...
02nd February 2009
The housing market is in crisis, estate agencies are closing hand over fist and unemployment’s rising. To top things off, hikes in the cost of living are making life very difficult for homeowners who stretched their finances too far when house prices we...
21st January 2009
Do you need to sell your house, but don’t want to move?
A relatively new player in the house repossession market is ‘sell and rent back’. This product lets people at risk of repossession sell their house then rent it back from the new corporate o...
13th January 2009
Step one of the home repossession process:
If you miss two or more mortgage payments, your mortgage lender is legally entitled to kick off the home repossession process. But before they call on the legal system, their internal debt management departmen...
