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The repossessions visionaries could be right about rise

The story on Mortgage Strategy Online last week stating that 67% of lenders and repossession experts predict a rise in repossessions was astounding – these people must have psychic powers to see such a thing coming.

But maybe it’s not all down to consumers overborrowing – it just might have something to do with lenders maintaining a massive differential between the base rate and the true cost of borrowing.

There seems to be no shortage of money for consumers who wish to borrow on credit or store cards at rates of up to 30%.

But who’s for a first-time buyer rate at as much as 7%? Or how about a tracker deal at 5% above the base rate?

Couple all this with inflexibility towards those in financial difficulties and it’s clear the quoted experts may be right, repossessions may continue to increase. But we must be to blame – surely it can’t be lenders’ fault.



Rates fall for deals at 90% LTV

The average rate for deals at up to 90% LTV has dropped by almost 2% in the last three months, according to Evaluate Technologies.

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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