UK - Repossession orders climb by 17%

[sackville]

Its defintely not peaking in the UK its getting worse.

Many people were selling off their property with little or no equity but housing market has slowed so much that the avenue is closed off,

In addition the subprime lenders have lots of loans o/s and they are increasing their rates not reducing them.

BOE interest drop has made little difference as before and after the last rate decrease there were many lenders increasing mortgage rates.

I believe in the US the lenders, in some cases, rather than repossessing, are actually allowing the residents remain in the property as effective caretakers.It's an insane mess and unlike other crashes this time it's global.

[odie1kanobe]

Its defintely not peaking in the UK its getting worse.

Many people were selling off their property with little or no equity but housing market has slowed so much that the avenue is closed off,

In addition the subprime lenders have lots of loans o/s and they are increasing their rates not reducing them.

BOE interest drop has made little difference as before and after the last rate decrease there were many lenders increasing mortgage rates.

I believe in the US the lenders, in some cases, rather than repossessing, are actually allowing the residents remain in the property as effective caretakers.It's an insane mess and it's unlike other crashes this time it's global.

US lenders are all over the place as certain cities have just whole neighbourhoods boarded up. There will be whole neighbourhoods bulldozed there as not worth anything and noone will buy when every other house is boarded up.

Friend with colleague in Gilbert ,Arizona has prop worth supposedly €330k trying to flog at €190k with no takers and lots of empty property so rentals not worth a dam.