Home repossessions creep up, mortgage lenders say

HAMISH_MCTAVISH

Graham_Devon wrote: »

Oh right.

Thanks for the insight. Can see where you are coming from now. Any falls now will be seen as a "new crash" in Hamish world.....

Well I hope we never see you describing peak as 2007 in that case. Will have to be 2010 sometime.

You really are a bit odd Graham. That didn't make a bit of sense.

Anyway, back to the point, the crash is over and the market is stagnating. Small falls from here don't make it another crash, or even the same crash. Small rises from here don't make it a new boom either.

Just accept it's all going to be a bit boring for the next couple of years and you'll be much less stressed.;)

nembot

wotsthat wrote: »

You are now the owner of a cheap internet point - enjoy.

Rather than setting up a self help group for people who have been repossessed I thought we were discussing the wider data.

Clearly it would be devastating to be repossessed but the figures show that despite the economy the number is small and barely increasing.

That's because there are mechanisms in place to delay repossession unless there is no other option. If this was not in place it would be a completely different story and to be fair, it's a bloody good thing for many families.

Lenders are legally obliged to do the best they can to help those in financial trouble, it's not like 10 years ago were you missed 3 payments and legal proceedings started.

Jimmy_31

HAMISH_MCTAVISH wrote: »

This crash ended in Feb 2009.

Then prices recovered significantly until early 2010, and have since pretty much stagnated.

A lot like last time, actually, with many years of bumping along the bottom after sharp initial falls.

I heard it ended on the 18th of february:)

Pimperne1

Repossession map pinched from somewhere else. Haven't looked closely at it but first impression is that its tough up North:

http://www.guardian.co.uk/news/datablog/interactive/2011/nov/10/repossessions-england-wales-map