CML releases repossession figures

The Council of Mortgage Lenders released figures last week that showed the level of repossessions in the UK had increased by 50% in the first three months of this year compared to the first quarter of the previous year. The number of repossession is said to have soared to 12,800 in the first three months of the year, and this was up from 10,400 in the previous quarter and from 8,500 in the first three months of 2008. Read more

Tags: repossessions, house market, final three months, Lenders released figures, Mortgages

Low deposit mortgages increasingly difficult to get

Consumers that are hoping to take out a mortgage to buy a property are still facing a tough time according to officials, even thought house prices have been falling for the past year. Availability of mortgages is still very tight as a result of the ongoing global credit crunch, and many lenders continue to take some of their best deals off the market after very short periods of time. Read more

Tags: mortgage, traditional level, house market, are, low deposit mortgages, past year

Unsold homes results in decreasing rents

Recent reports have shown that the number of unsold homes in the UK are resulting in the amount of rent being charged on rental properties being driven down. Over recent months more and more homeowners that were hoping to sell their properties have found that in the current climate they are unable to secure a sale for their properties, and with many unable to keep on top of mortgage repayments a large number of these sellers decided to put their homes up for rent on the market. Read more

Tags: current accounts, Affordable housing, Renting, official, house market, Business Finance, unsold homes, landlord