Alistair Darling to Stop Rent Back Evictions

The Office of Fair Trading estimated in its recent report into the sector that some 50,000 sale-and-rent-back transactions had taken place.

Now There’s Even a House Prices Crash Calculator

The threat of negative equity however is now a very real one and millions of people will find it impossible to refinance their mortgages and will be forced onto their lenders’ top standard variable rates.

Stop Repossessions Org UK Sees Rise in Negative Equity Repossessions

As 2008 marches on and the global and economic situation looks ever more bleak, so are the tales we are hearing from UK homeowners facing repossession.
Back in 2007 a rough estimate would be that 70% of those people who contacted us by phone or email had some difficulties with their mortgage repayments, were in arrears [...]

More Homeowners Face ReMortgage Hell as Lenders Pull 100% loans

Homeowners facing finance problems may be a step closer to repossession as mortgage lenders pull their 100% loans.
This means that for those who need to remortgage soon, not only are rising interest rates from sub prime lenders and falling or static house prices an issue, but they may now find that they are unable to [...]

Real Life Repossession Cases – Mrs B vs Kensington Mortgages

In order to help other home owners who are facing repossession, we are going to start posting actual cases.
These will be based on situations faced by people who have contacted us but of course, names and identifying information will remain hidden.
Case #1
Mrs. B
Location: Wakefield
Value of Home: approx ￡500,000
Total Mortgage: ￡108,000
Lender: Kensington
Second Charge: None
Loan Arrears: [...]

Let’s Talk Ourselves Into a Housing Market Crash

Recessions are an interesting phenomenon.
This is because they are created by belief.
If everyone believes there is going to be a recession then they act accordingly. We spend less ‘just in case’ and we put off important decisions like moving house and taking on a bigger mortgage ‘just in case’.
The irony is that there is still [...]

50% of Repossessions Are By Sub Prime Lenders

 
According to statistics published today by BBC Radio 5, FIFTY PERCENT of all repossessions in 2008 involve sub prime lenders.
No surprise there then?

Except that sub prime mortgages only make up 6% of UK mortgage lending.
Among the other fifty percent the highest number of repossessions are being brought by high street lenders Britannia Building Society, Bradford [...]

Sub Prime Lender Kensington Pulls No Punches in Home Repossessions

In the last few weeks we have had numerous calls from desperate homeowners who have gone to court to try and make an arrangement to pay off their mortgage arrears and ask the judge to suspend a possession order.

All of these callers have said the same thing.
The Judge asked the lender’s solicitors to speak to [...]

Manchester is Britain’s Debt Capital

According to ITV’s documentary Repossession Repossession Repossession (to be shown tonight at 10.35pm on ITV1) the northern city is where the highest percentage of those with serious debts and facing repossession, can be found.
The programme will claim that 29% of households in Manchester are facing serious financial problems and possibly home repossession.
Fuelled by easy credit [...]

Is Sell and Rent Back The Right Option For Me

When Sell and Rent Back is not an option
One of the questions we get asked most is ‘Is Sell and Rent Back and Option For Me’?

The answer really depends on a number of circumstances and every situation is different, but generally speaking sell and rent back options are not feasible for those whose properties are [...]