Debate House Prices


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100 repos a day, mortgage arrears spiralling!

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:
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Comments

  • Old_Git
    Old_Git Posts: 4,751 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Cashback Cashier
    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"
  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    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:
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    amcluesent wrote: »
    Should be some real bargains coming up for auction for BTLers running a vulture fund!:beer:
    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
    amcluesent Posts: 9,425 Forumite
    >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.
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    The vultures are circling above as we speak. Aaaaahhhhhh Aaaahhhhhhh
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    bo_drinker wrote: »
    The vultures are circling above...
    ... the cockroaches are scuttling....
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    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.
  • neil9313
    neil9313 Posts: 696 Forumite
    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:
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    neil9313 wrote: »
    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.
  • neil9313
    neil9313 Posts: 696 Forumite
    !!!!!!? wrote: »
    Why not click on the link provided in the original post and read it for yourself?

    I did :rolleyes: however the OP didnt give the full details,
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