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?

Repossession House Keys

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 & Bingley, and (no surprise here) Northern Rock, all of which have pursued an agressive mortgage lending policy in the last 5 years.