The amount of homes repossessed last year dropped by 24% on the previous year, but is this showing a true reflection of the market? Mike Thomas looks beyond the numbers.
A Deed of Acknowledgement is a particularly sinister form involved in home repossession that, if signed can leave you legally responsible for any shortfall after the sale. Don't sign it, says Mike Thomas.
A Deed of Acknowledgement is a particularly sinister form involved in home repossession that, if signed can leave you legally responsible for any shortfall after the sale. Don't sign it, says Mike Thomas.
Homeowners will be protected from repossession under tighter laws that will make it compulsory for lenders to go through the courts before they can sell customers’ homes.
Northern Rock says its financial performance is improving thanks to “encouraging” economic trends, but has warned that the number of mortgage borrowers falling behind with repayments is rising.
One of the UK’s biggest specialist mortgage lenders has been ordered to pay a record £10.5 million for treating struggling borrowers unfairly and being too ‘trigger-happy’ with repossessions.
Homeowners who enter into sale and rent back schemes should be told upfront how long they can stay in their homes, the financial watchdog has proposed.
Charities offer free debt advice, but the credit crunch means there might well be a waiting list. Is it then worth paying for help to manage your debt?
