Friday 15 August 2014

The rise and fall of reposessions

The Ministry of Justices, Mortgage and Landlord Posession quarterly statistics show a reduction in mortgage repossession and an increase in reposession for rent.

Low interest-rates appear to have played a huge part in the lower mortgage repossession rate. Additionally lenders appear to be more proactive when dealing with people in financial difficulty.

Reposessions are becoming more common and the reasoning behind this can vary. Tighter budgets and increasing rents may well play a big part in this.

Posted by My Money Steps

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