repossessions

North-South divide on repossessions widens

The North-South divide in home repossessions is at its widest for six years, with the North West being hit hardest in the year to July 2013, according to a new study.

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I'm £55,000 in debt and worried about losing my home. What can I do?

An IVA is a legally-binding arrangement to pay an agreed amount off your debts over a set period.

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Can you trust last year's house repossession figures?

So its official then, the Council of Mortgage Lenders (CML) says that only 36,300 homes were repossessed throughout 2010, a drop of 24% on the year before.

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Repossessed borrowers - sign any forms at your peril

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.

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Repossessed borrowers - sign any forms at your peril

Mark, a police officer, is about to have his home repossessed by his mortgage lender. Sold at auction, it is expected to fetch around £44,000 less than Mark's outstanding mortgage.

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Outlook for repossessions remains uncertain

The number of people losing their homes to repossession hit a 14-year high last year, with some 46,000 cases.

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Repossessions slow

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.

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Northern Rock "improving" despite uncertain outlook

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.

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Mortgage lender fined over repossession policy

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.

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New rules to protect vulnerable homeowners

Homeowners who enter into sale and rent back schemes will be told upfront how long they can stay in their former homes, under new proposed rules due to come into force next summer.

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