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DCA reveals rise in mortgage possession figures

The Department for Constitutional Affairs has revealed that the number of possession orders on mortgage arrears has risen by 15% in the last year.

Possessions are ordered as a way for lenders to firmly take action on unpaid mortgages, but can be abandoned as soon or as late as the tardy payments are met.

During Q3 2006, 34,626 mortgage possession actions were entered, and a total of 24,017 orders were made. This is a rise of 22% on Q3 2005.

The figures report how many possession proceedings have been issued, and how many orders for possession have been made by the county courts. Since many of the orders made will not have been enforced, these figures do not reflect how many properties have been taken into possession.

The council of mortgage lenders release bi-annual figures of orders that actually lead to possession; CML’s last set of figures show that out of 70,843 orders made, only 10,310 possessions actually came to fruition.


AToM top proc fee spender

All Types of Mortgages, the lending distributor, has revealed it pays brokers one of the highest proc fees in the industry. Recent internal research from AToM, showed on average it pays a higher proc fee than the industry norm. The research also highlights the wide variation in proc fees paid by packagers for the same […]

One in four parents can’t afford their own home

Alliance & Leicester has revealed that nearly a quarter of parents in the UK cannot afford to buy their own property, and rely on renting or living with their children’s grandparents.Out of these parents, only 3% are currently seeking their own home, while over half are not even attempting to look for property thanks to […]

Direct changes management structure

Direct Financial Services, the Mortgage Packager based in Hull has changed its senior management structure. Company founders Malcolm Davidson and Alex Knaggs will assume the positions of joint managing directors. They will continue to steer the overall direction of the group’s diverse interests, which as well as the mortgage packaging arm, also includes financial advice, […]

Government launches National Housing and Planning Advice Unit

The government has launched a National Housing and Planning Advice Unit to provide independent advice on improving housing market affordability.The Unit will help strengthen the housing market evidence base and analysis currently available to the regional planning bodies. This will help to ensure that new homes identified in regional plans have a positive impact in […]


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