Repossession day in court: ten minutes with a lawyer, five before a judge | Jon Robins

Posted by & filed under Borrowing & debt, Comment, Family finances, guardian.co.uk, Housing, Law, Legal aid, Money, Open justice, Property, Repossessions, Society, UK news.

Legally-aided advice desk at Clerkenwell and Shoreditch county court is a vital service for clients who may lose their homesThere is something Dickensian about repossession day in our courts. Recently I spent a day Clerkenwell and Shoreditch county cou…

Governments should help with mortgages to avoid prolonged slump

Posted by & filed under Borrowing & debt, Business, Economics, Financial crisis, Financial sector, Global economy, guardian.co.uk, IMF, Money, Mortgage arrears, Mortgages, News, UK news, United States, World news.

Rapid buildup of household debt during boom leads to deeper downturn when bubble bursts, World Economic Outlook arguesGovernments should step in to help struggling households write off part of their mortgages in the wake of a financial crisis to avoid …

Nationwide tightens up on interest-only mortgages

Posted by & filed under Banks and building societies, Borrowing & debt, Business, guardian.co.uk, Housing market, Money, Mortgages, Nationwide, News, Property, UK news.

Nationwide slashes LTV on its interest-only deals, raising fears it will leave thousands of borrowers as ‘mortgage prisoners’Nationwide building society has slashed the maximum loan-to-value (LTV) ratio on its interest-only mortgages from 75% to 50%, l…

Mortgage arrears and repossessions set to rise

Posted by & filed under Borrowing & debt, Business, Financial Services Authority (FSA), First-time buyers, guardian.co.uk, House prices, Housing market, Money, Mortgage arrears, Mortgages, Negative equity, News, Property, Repossessions, UK news.

Council of Mortgage Lenders’ forecast for 2012 predicts a deterioration in number of borrowers behind on their mortgages, and greater pressure on household budgetsRising unemployment and increased pressure on household budgets will lead to more borrowe…

Home repossessions fall, but UK faces ‘arrears timebomb’

Posted by & filed under Borrowing & debt, Business, guardian.co.uk, Housing market, Money, Mortgage arrears, Mortgages, News, Property, Repossessions, UK news.

Mortgage experts warn of lenders losing patience and threat of an interest rate increaseThe number of homes being repossessed fell by 1% in the second quarter of the year to 9,000, compared with 9,100 in the first three months of 2011, according to the…

Repossession capital of England still trying to build its way out of trouble

Posted by & filed under Borrowing & debt, Business, Communities, Features, Housing, Housing market, Money, Property, Repossessions, Social exclusion, Society, The Observer.

Leaders of the former steelworking town of Corby hope it can build its way to prosperity, but many who moved there are trapped in negative equity”You could own this home for as little as £451 a month,” yells the advert for a four-bedroom townhouse set…

Bank chief warns of wave of home repossessions if rates rise

Posted by & filed under Borrowing & debt, Business, Economics, Housing market, Interest rates, Money, Mortgage arrears, Mortgages, News, Property, Repossessions, The Guardian.

UKAR chief presiding over £80bn of bailed-out mortgages says ‘tough love’ would be fairer on those struggling with paymentsBritain is facing a ‘tsunami’ of house repossessions as soon as interest rates start to rise, one of the country’s leading banke…

Home repossessions jump by 17%

Posted by & filed under Borrowing & debt, Business, Communities, First-time buyers, guardian.co.uk, Housing, Housing market, Money, Mortgages, News, Property, Repossessions, Society, UK news.

FSA data shows a rise in repossessions for the first time in more than a yearHome repossessions have risen for the first time in more than a year, jumping 17% in the first three months of 2011, according to official figures.The data, issued by the Fina…