Repossessions throughout the UK are still on predicted to rise in 2013 off the back of weak economic conditions reports the FT.com.
“Standard & Poor’s, one of the big-three agencies, on Thursday forecast a rise in repossessions from an estimated 35,000 this year to 39,000, or 0.37 per cent of all mortgages next year. High unemployment, falling house prices and sluggish wage growth would prompt the rise.”
Read more at: http://www.ft.com/cms/s/0/c6f48f0e-2f48-11e2-b88b-00144feabdc0.html#axzz2IEgzAMHj
We have noticed an increase in enquires in January from those facing repossession and who are looking to sell their homes as fast as possible.
In other news, the RBS has been reported to come down hard on those who have missed mortgage payments. The failing bank is looking to reduce it’s massive losses due to bad repossession debt off the back of the collapsed Santander deal last year.
Best Wishes, John
