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100 repos a day, mortgage arrears spiralling!
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amcluesent
Posts: 9,425 Forumite
More than 100 homes are being repossessed each day, official figures show, the highest level for 12 years. The number of borrowers losing their homes rose almost 50 per cent in six months.
The total number of households with arrears of more than three months was 155,600 at the end of June, up from 129,600 at the end of 2007
Should be some real bargains coming up for auction for BTLers running a vulture fund!:beer:
The total number of households with arrears of more than three months was 155,600 at the end of June, up from 129,600 at the end of 2007
Should be some real bargains coming up for auction for BTLers running a vulture fund!:beer:
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if a repo goes to auction ,then buyer needs a big deposit and have to complete in 14 or 28 days .So probably be sold to another BTLer ."Do not regret growing older, it's a privilege denied to many"0
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Why would it need a higher deposit. if one has 25% as long as that goes with what the lender needs then why presume BTL will have them. I certainly dont rule out auctions and we will be looking for a family home.
Plenty going unsold at Auction, im keeping my eye out.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Hmm... bargain. Another myth to be destroyed. When something was grossly over priced, and then simply becomes over priced, it is not yet a bargain. When it is under priced it is a bargain. We've a long way to go before there are bargains... there will be... but not yet.amcluesent wrote: »Should be some real bargains coming up for auction for BTLers running a vulture fund!:beer:0 -
>When it is under priced it is a bargain<
A reversion to 2003 prices would start to be interesting, depending on location, type of property, etc.
Plenty of peeps have £100,000+ in cash waiting.0 -
The vultures are circling above as we speak. Aaaaahhhhhh AaaahhhhhhhI came in to this world with nothing and I've still got most of it left. :rolleyes:0
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... the cockroaches are scuttling....bo_drinker wrote: »The vultures are circling above...0 -
amcluesent wrote: »>When it is under priced it is a bargain<
A reversion to 2003 prices would start to be interesting, depending on location, type of property, etc.
Plenty of peeps have £100,000+ in cash waiting.
:money: --
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
amcluesent wrote: »More than 100 homes are being repossessed each day, official figures show, the highest level for 12 years. The number of borrowers losing their homes rose almost 50 per cent in six months.
The total number of households with arrears of more than three months was 155,600 at the end of June, up from 129,600 at the end of 2007
Should be some real bargains coming up for auction for BTLers running a vulture fund!:beer:
So who are these official figures from then? Or are you Just scare mongering? :rolleyes:0 -
So who are these official figures from then? Or are you Just scare mongering? :rolleyes:
Why not click on the link provided in the original post and read it for yourself?--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0
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