Increase In Secured Loan Arrears And Repossessions
Increase In Secured Loan Arrears And Repossessions
At the beginning of this year, the Council of Mortgage Lenders (CML) warned the mortgage loan industry as a whole that it expected to see a dramatic increase in the number of repossessions of people’s homes throughout the course of 2008, due to the effects of the credit crunch and according to the latest figures, they appear to have been right so far. New figures from the Financial Services Authority (FSA) have revealed that the total number of repossessions of properties in arrears on their l
Changes In The Secured Loan Market
Topics: secured loan, secured loans, fast secured loans, uk secured loan, uk secured loans, web loans There have been some changes in the secured loan sector over the last few months. This does not involve how the secured loan process works and the regulation process has not changed. The main changes have been with the fact that the lenders have tightened things up and it’s a bit harder to get a secured loan. With the sub prime fallout in America we have seen the effect ripple through to the
11,000 families forced out of homes homes (The Herald)
The number of homes repossessed has soared by 71%, new figures revealed yesterday. The Financial Services Authority said 11,054 homes were repossessed in the UK in the three months to the end of June, compared with just 6476 during the same period last year.