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 [...]

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 [...]

BBC Puts HSBC in Spotlight Over Aggressive Loan Tactics

From BBC News today
Banks ‘prey on customers in debt’

Some people are agreeing to make payments they cannot afford
Banks are being accused of pressurising customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
Some banks are repeatedly telephoning customers to try to get them to take [...]

Bank of England Reduces Interest Rate But Will Sub Prime Lenders?

Let’s hope that the BoE reduction of one quarter of a percent interest rate will actually filter down to those who need it most?
Prime lenders like Halifax have already passed it on to their customers, but for those customers of sub prime lenders like Capstone, GE Money, Kensington, and the like, the results are [...]