Just 7 houses sold in the whole of chester in may

torontoboy45

I really do wonder about the accuracy of this tool.
northampton - with a pop. 160000+ managed just 83 sales in may compared to 500+ in jan 08.

EA's may not be busy but there's scant evidence of branch closures.

on t'other hand, northampton has been named neg.eq. capital of UK (from yesterday's Screws of the World, so mind how you go).

moggylover

the_ash_and_the_oak wrote: »

unaware of any tbh. I'm only really aware of a pretty significant lowering of rates, and of banks fairly reluctant to reposess. Pretty sure death and divorce not beaten yet, but kinda feeling repossessions been hugely reduced as a factor IMO

They might be reluctant: but according to the TV news just a couple of days ago (BBC) the measures put in place by the Government have so far only helped 6 (yes SIX) families to stay in their homes:rolleyes:

Now either there are a lot who ARE actually being repossesed already (and there are) or there are a hell of a lot more to come.;)

IveSeenTheLight

moggylover wrote: »

Now either there are a lot who ARE actually being repossesed already (and there are) or there are a hell of a lot more to come.;)

The CML have recently revised down the expected reposessions from 75,000 to 65,000 for 2009.
It's quite possible with the low interest rates, that people previously struggling with mortgage payments can now manage or indeed have come to an agreement with their lender

moggylover

IveSeenTheLight wrote: »

The CML have recently revised down the expected reposessions from 75,000 to 65,000 for 2009.
It's quite possible with the low interest rates, that people previously struggling with mortgage payments can now manage or indeed have come to an agreement with their lender

That is still a huge amount of repos in a market that is not exactly abounding with buyers;). TBH: it is a huge number of repos full stop!

IveSeenTheLight

moggylover wrote: »

That is still a huge amount of repos in a market that is not exactly abounding with buyers;). TBH: it is a huge number of repos full stop!

It is still a huge amount. It is not nice especially those it affects.

the numbers however are less than two months of sales (actual buyers), even in this low sales climate.

But you bring a good point in, what is the benefit of a lender reposessing properties when it is not exactly a sellers market.
Maybe it is in their interest to come to an agreement with the lendee's

the_ash_and_the_oak

moggylover wrote: »

They might be reluctant: but according to the TV news just a couple of days ago (BBC) the measures put in place by the Government have so far only helped 6 (yes SIX) families to stay in their homes:rolleyes:

Now either there are a lot who ARE actually being repossesed already (and there are) or there are a hell of a lot more to come.;)

wasn't really meaning this tbh - more the people that are paying much less in mortgage interest since the BOE slashed rates

chewmylegoff

torontoboy45 wrote: »

I really do wonder about the accuracy of this tool.
northampton - with a pop. 160000+ managed just 83 sales in may compared to 500+ in jan 08.

EA's may not be busy but there's scant evidence of branch closures.

on t'other hand, northampton has been named neg.eq. capital of UK (from yesterday's Screws of the World, so mind how you go).

it's not accurate for the last few months as not all the sales for those months will have been reported to the LR yet.