repossessions fall 24% in 2010 compared to 2009

nembot

It's a good thing that these homeowners are getting help, however it hasn't stopped the continuing downward trend.

What are we now, 6 months of drops out of 8?

chucky

Graham_Devon wrote: »

Please, do we have to go down the route of "show me exactly how many mortgagee's are better off, and what the relation is exactly to BOE base rates, and exactly how many will see thei rmortgage rise, and how you know mortgage interest will rise with BOE rates rise".

It's pure common sense. Loads of mortgages were affected by base rate falls. Loads will be affected by base rate rises.

see, you're not the brightest and common sense isn't going to be your strongest point.

so let's get back to the point - BOE base rate has little to do with mortgage rates at the moment and probably won't have in the short and medium-term.

so let me ask you again

remind me where "BOE interest rates have not changed from their 300 year low" and "when base rates do rise" have anything to do with repossessions or will change mortgage rates?

using your 'common sense' explain how BOE rates will affect mortgage rates - please try to instead of your usual deflection technique when you see a point you can't answer

Thrugelmir

chucky wrote: »

that's 1.82% of all mortgages

As de1amo said. The whole mortgage bubble has yet to unravel. Took 12 years to peak. So could take considerable length of time to deflate.

chucky

Thrugelmir wrote: »

As de1amo said. The whole mortgage bubble has yet to unravel. Took 12 years to peak. So could take considerable length of time to deflate.

ahh expert analysis,
what goes up must come down.
if it takes 12 years to get to peak it must take a "considerable length of time to deflate"

we're all doomed

de1amo

i have a home with a small mortgage but personally hope this market does go pop!-i think we are doomed but its not only the property market that has gone bang--uk plc is bankrupt and i cant see an easy root out of it--we dont produce anything and our financial services has gone--oil revenues will cease in about 8 years and there is nothing to replace it--not sure owning a home in a bankrupt society will be a good thing!

chucky

de1amo wrote: »

i have a home with a small mortgage but personally hope this market does go pop!-i think we are doomed but its not only the property market that has gone bang--uk plc is bankrupt and i cant see an easy root out of it--we dont produce anything and our financial services has gone--oil revenues will cease in about 8 years and there is nothing to replace it--not sure owning a home in a bankrupt society will be a good thing!

talk about a mis-informed post... to be fair at least it's consistent for this forum.

a couple of facts that may have passed you by...

the UK is not bankrupt
the UK is the 6th or 7th largest manufacturer in the world
oil revenues running out in 8 years?? i see lots of firms currently drilling for oil in the North Sea

de1amo

i just go by what i see on the bloomberg terminal from the US---the experts on there see a very dim future for the uk.--i dont live in the uk but know what the world opinion is.
I' d like to know what the uk manufactures when wage rates are so uncompetitive in a world market to make it 6th or 7--certainly doesnt show on the balance of payments

Batchy

anyway... repossessions are less than last year...

Hence less bargains were available in 2010 compared to 2009...

Will 2011 repossessions be higher than 2010 or lower than 2010, since lenders are less keen to repossess.

Interesting... lets discuss. Like adults

Thrugelmir

de1amo wrote: »

I' d like to know what the uk manufactures when wage rates are so uncompetitive in a world market to make it 6th or 7--certainly doesnt show on the balance of payments

Oil and gas.

IveSeenTheLight

nembot wrote: »

It's a good thing that these homeowners are getting help, however it hasn't stopped the continuing downward trend.

What are we now, 6 months of drops out of 8?

Depends on the index:

LR http://www.landregistry.gov.uk/
Down 4 out of 8
Down 5 out of 12

Nationwide http://www.nationwide.co.uk/hpi/historical/Dec_2010.pdf
Down 5 out of 8
Down 6 out of 12

Halifax http://www.lloydsbankinggroup.com/media/pdfs/2011/HousePriceIndexJanuary2011.pdf
Down 4 out of 8
Down 7 out of 12