SELL YOUR HOME QUICKLYMore house repossessions as result of the credit crunch
The trade association for the mortgage lending industry, The Council of Mortgage Lenders (CML), has reported that the possession rate has increased to 0.16% since 2007.
More and more borrowers are slipping into arrears, which is leading to more property repossessions in the UK property market. On its website, the CML explained that the possession rate - that is, the proportion of all mortgages on which possession occurred in the period - was 0.16% in the first half of the year, up from 0.11% in both the first and second halves of 2007.
According to CML, the possession rate can now be compared to that of the late 1990s. Compared to 2007, in the first half of 2008, 18 900 properties were repossessed in 2007, the first half of the year recorded 12 800 repossessions, and the second half 13 400.
An economist with Global Insight, Howard Archer commented: The number of repossessions seems set to rise significantly further over the coming months as there are a plethora of factors that will damage households' financial positions, according to Aboutproperty.co.uk.
The data of repossessions escalating is a worrying fact for property and homeowners. When faced with repossession, the best solution to the problem for many home and property owners is to sell their property as soon as possible. Selling property and finding a property buyer is however difficult at the moment.
MPG Investments can help you to avoid repossession by buying your property. Contact MPG today on 0800 634 9231 and we will send an assessor to your property to do a free property value assessment.
We will give you a guaranteed cash offer for your home helping you to settle your debt and avoid repossession of your property.
More articles people found useful:
- Stop Repossession
- Stop repossession with MPG home buying service
- The only way to beat repossession
- The alternative to property repossession
- MPG can Stop Repossession and Let You Keep Your Home
- Stop repossession with a quick home sale
- Facing property repossession?
- Need to stop repossession? Help is at hand!
- Sell your house for cash to MPG!
- How to stop home repossession
- Avoid Property Repossession
- Avoid the effects of property repossession on your family
- Im at risk of repossession please help me sell my property!
- Repossession order or not: You can stay in your home!
- Tired of reading about how to avoid repossession?
- Get repossession help from MPG
- Property repossession prevention is better than cure
- 300 Britons declared bankrupt every day: Avoid repossession
- Mortgage payers promised a break by lenders
- Five facts you may not know
- Avoid repossession with MPG Investments!
- Stop repossession today!
- Contact the specialists and stop property repossession today!
- Contact us
Latest News:
- More house repossessions as result of the credit crunch
- Home repossession on the rise
- Home repossessions rise by 40 percent
- Mortgage payers promised a break by lenders
