MSE News: Home repossessions up 15%

bargepole

Just being pedantic, but why does everyone keep using the word "repossession"? If a lender takes a borrower to court, he applies for a Possession Order. There is no such term as "repossession".

pawlala

probably because its an easier term for the country to understand.

rickbonar

The problem with the opening article which states : "Home repossessions up 15%"

It doesn't really say from when to when.

It would be better to give the figures from each year 2006 to 2011.

Quite frankly I'm surprised it isn't more but as said it doesn't mean much when you don't know what a "normal" figure should be.

As for commentator requesting government bailouts? quite how would that be achieved? ... better to put up the interest rates slightly and slowly till the true value of house prices emerge and people rightfully able to buy sift into place.

black_taxi_2

wouldnt surprise me if those who are repossessed find the rents are higher than original mortgage----it was there loans/credit that lost them there homes.

so basicly there in a much more serious situation

whats shocking is reppossesions up 15% but rates are lowest in history----once rates go up it will rocket

MissMoneypenny

adwat wrote: »

Maybe this is good news for us MFW's. It might mean interest rates continue to be held low, enabling us to continue overpaying our mortgages.

Interest rates aren't based on whether people can afford their mortgages or not. I'm afraid there are much bigger things for this country to worry about.

However, the mortgage lenders do make it quite clear when you take out a mortgage, that if you can't afford your mortgage, then you will lose the property.

When the temporary limits for SMI end (support up to 200,000 instead of 100,000 and paid after 13 weeks instead of 39) I assume there will be more hardship for those that did nothing to improve their financial situation while the temporary limit was in place.