Credit, Collections & Insolvency News
House prices are projected to fall in the wake of the coronavirus crisis – but, for many young people looking to buy their first home, this trend won’t make things easier. Instead, falling incomes and the risk of more restrictive lending look set to make buying a home for the first time every bit as…
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Latest figures from UK Finance have indicated that property repossessions have fallen by more than 90%, with homeowners opting for mortgage holidays amid the coronavirus crisis and banks banned from seizing homes amid the pandemic. There were just 90 owner-occupied homes repossessed in Quarter 2 (Q2), a 93% decline on Q2 2019, while 130 buy-to-let…
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Mortgage arrears number fall in second quarter of this year, according to latest figures from UK Finance. The figures showed that there were 73,580 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2020, this was 3 per cent fewer than in the same quarter…
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