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 …
Posts Categorized: Mortgage arrears
Should I overpay the interest-only or repayment part of my mortgage?
Q I am trying to calculate the impact of paying off £20,000 of my mortgage. I owe £28,000 on a repayment basis and £30,000 on an interest-only basis, and the mortgage has 10 years left to run.I am planning to pay £10,000 off the interest-only porti…
More must be done to help those facing house repossession
Every two minutes, someone in the UK faces losing their home. Proper advice and support must be there for those who need itFather-of-three Peter Levenson is struggling desperately to hold on to his home. The former owner of a successful plumbing busine…
Mortgage arrears and repossessions set to rise
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’
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…
Bank chief warns of wave of home repossessions if rates rise
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…
Crisis looms in repossessions hotspots
Race is on to help homeowners most at risk if interest rates riseThe 75-metre-high tower of Lister’s Mill symbolised the power and status of Bradford during the city’s industrial heyday. It was the largest silk factory in the world, churning out the ve…