|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    21st of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Property News feed Property News

All Financial News feed All Financial News




News Tag: arrears

October 19, 2012

Average rent rises to all-time high

by Jan Harris
Average rent rises to all-time high
The average rent on a home in England and Wales increased to £741 a month in September, according to the latest buy-to-let index from LSL Property Services. This was 1.1 per cent higher than the average rent of £734 in August and represents a new record high. However the rate of increase has slowed, from 1.2 per cent in August. On a ...




October 24, 2011

LSL: Rents reach record high in September

by Kay Mitchell
”LSL:
A survey by LSL Property Services has revealed rents in England and Wales continue to surge, with the average rent hitting a further record high last month. September represented the eighth consecutive month that the average rental cost rose. Lenders’ deposit requirements, together with unaffordable house prices, has meant the rental sector has been in high demand and this has driven up ...




September 16, 2011

LSL: Rents reach record high in August

by Kay Mitchell
”LSL:
A survey by LSL Property Services has revealed rents in England and Wales continue to surge, with the average rent hitting a further record high last month. August represented the seventh consecutive month that the average rental cost rose. Lenders’ deposit requirements, together with unaffordable house prices has meant the rented sector has been in high demand and this has driven ...




August 11, 2011

CML reports drop in repossessions in Q2

by Kay Mitchell
”CML
The Council of Mortgage Lenders (CML) has today reported a fall in home repossessions. According to the Council, lenders seized 9,000 properties in the April to June period – 100 less when compared with the first three months of the year. Meanwhile, there were 18,100 repossessions in the first half of 2011, compared with compared with 19,500 in the first ...




February 10, 2011

CML reports further fall in repossessions

by Kay Mitchell
CML reports further fall in repossessions
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions – the fifth consecutive quarter in which they have fallen. According to the Council, lenders seized 7,900 properties in the October to December period - an 11% fall from the 8,900 in the previous quarter. It was also 26% lower than the same period a year earlier. Experts argue, though, ...




December 15, 2010

CML provides assessment for housing market in 2011

by Kay Mitchell
CML provides assessment for housing market in 2011
The Council of Mortgage Lenders (CML) is predicting that the housing market will remain subdued in 2011, due to uncertainty surrounding the economy and the ongoing mortgage rationing by lenders. Over recent times, demand has been weak as many buyers have adopted a “wait and see” approach as uncertainty continues to surround the economy and the Government’s spending cuts make ...




November 11, 2010

CML reports further fall in repossessions

by Kay Mitchell
CML reports further fall in repossessions
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions - the fourth consecutive quarter in which they have fallen. According to the Council, lenders seized 8,900 properties in the July to September period - representing a fall of 5% compared with the second quarter. Experts argued, though, that many homeowners have been saved from repossession, due to ...




August 12, 2010

CML reports further fall in repossessions

by Kay Mitchell
CML reports further fall in repossessions
The Council of Mortgage Lenders (CML) has today reported a further fall in repossessions - the third consecutive quarter in which they have fallen. According to the Council, lenders seized 9,400 properties in the April to June period - 400 less than in January to March period. Experts argued, though, that many homeowners have been saved from repossession, due to historically low interest ...




July 13, 2010

Mortgage lenders’ responsibilities redefined

by Gill Montia
...




May 13, 2010

Mortgage arrears and repossession down

by Gill Montia
”Mortgage
Mortgage arrears and repossessions both fell in the first quarter of 2010, according to the Council of Mortgage Lenders (CML). However, the body warns against complacency, "as a large number of households, who are just coping, still remain vulnerable to shocks that may arise from the economic uncertainty ahead". During the first three months of the year, total repossessions stood at 9,800, down from ...




March 18, 2010

Year-end improvement in mortgage arrears and repossessions

by Gill Montia
”Year-end
In its latest round-up of UK mortgage statistics, the Financial Services Authority has reported a fall in the number of homeowners in arrears. In the final quarter of 2009, 378,000 households were behind with their monthly repayments (at a level equivalent to 1.5% of their outstanding balances). The figure is down 4% on the previous quarter and represents 3.42% of ...




February 11, 2010

46,000 homes repossessed in 2009

by Gill Montia
”46,000
Repossessions fell 13% to 10,200 in the final three months of 2009, compared to the previous quarter. The figure, which includes home-owner and buy-to-let mortgage borrowers, was also 2% down on the same period of 2008, according to the Council of Mortgage Lenders (CML). However, for 2009 as a whole, mortgage lenders possessed around 46,000 homes, up 15% on a year earlier but well ...




January 26, 2010

FSA defends home owners with mortgage arrears

by Gill Montia
”FSA
Mortgage borrowers in arrears stand to get a better deal from lenders under new proposals published today by the Financial Services Authority (FSA). The package is aimed at ensuring home owners in financial difficulties are treated fairly, by strengthen existing rules on arrears handling and promoting the regulator's "tough stance" on mortgage fraud. Under the proposals lenders will not be able to: ...




December 17, 2009

Repossession up but new arrears decline

by Gill Montia
”Repossession
New data from the Financial Services Authority (FSA) show the number of homes being taken back by lenders rising 3% to 13,987 in the third quarter of 2009, compared with the previous three months. However, repossession levels have remained fairly flat in recent months and the figure is almost 6% below the January to March level. Meanwhile, the number of mortgage borrowers ...




November 12, 2009

Lenders cut 2009 repossessions forecast

by Gill Montia
”Lenders
The Council of Mortgage Lenders (CML) has cut its forecast for the number of repossessions in 2009 to 48,000. The estimate is substantially down on earlier forecasts of 75,000 in 2008 and 65,000 in June of this year, and the body says the improvement reflects "lender forbearance, government measures and the beneficial effect of continuing low interest rates". In further good news, CML figures ...




October 29, 2009

New precedent for mortgage lenders treating customers unfairly

by Gill Montia
”New
One of the UK's leading sub-prime mortgage lenders has been fined £2.8 million by the Financial Services Authority (FSA) for not treating its customers fairly. GMAC-RFC has also agreed to repay up to £7.7 million in total, plus interest, to over 46,000 of its mortgage customers. The FSA says the case sets a precedent in that its investigation at GMAC were ...




October 19, 2009

“Major reforms” in hand for UK mortgage lending

by Gill Montia
”"Major
The Financial Services Authority (FSA) has today set out "major reforms" that it intends to impose on UK mortgage lending. The proposed new measures are aimed at making the market "sustainable" for lenders and borrowers and reflect "a more intrusive and interventionist style of regulation". Key features include imposing affordability tests for all mortgages and making lenders ultimately responsible ...




September 15, 2009

Mortgage borrowers quash arrears

by Gill Montia
”Mortgage
Research from the Building Societies Association (BSA) claims that over the last two years, the majority of borrowers who have fallen into arrears with their mortgage repayments have either caught up, or are in the process of catching up. According to the BSA, 97% of borrowers in financial difficulties have avoided repossession with thirty-three per cent making up their repayments in full, while 41% ...




August 31, 2009

Government updates repossession advice

by Gill Montia
”Government
Homeowners under threat of repossession and tenants on the brink of eviction have a new resource available at www.direct.gov.uk. The site now contains articles and videos prepared by the Ministry of Justice, aimed at informing people with both mortgage and rent arrears. The advice addresses a wide range of problems and is suitable for those who think they may have a problem keeping up their ...




August 21, 2009

Lenders optimistic on arrears and repossessions

by Gill Montia
”Lenders
In its latest commentary on the UK housing market, the Council of Mortgage Lenders (CML) describes the recovery seen in recent weeks as "fragile" and warns of a "modest dip" towards the end of the year, reflecting seasonal factors. More positively, second quarter data for arrears and repossessions suggest that fewer borrowers are struggling financially than had been feared, despite a modest ...