The hidden heartache of repossession
Despite the fact that the Council of Mortgage Lenders last week reduced its forecast of the number of homes to be repossessed in the UK, we may well be missing the point. It was revealed that 9800 homes were repossessed in the first quarter of 2010 and this figure fell to 9400 in the second quarter with an estimate that "just" 39,000 homes would be repossessed this year as opposed to initial forecasts of around 53,000. However, surely 39,000 homes is way too many?
Over the last few days we have seen a number of disturbing stories in the press regarding families who have virtually been ripped apart after losing their homes and spiralling into financial difficulties. This comes at a time when the UK government is looking to half mortgage benefit payments while attempting to place more pressure on the UK banking industry to make more finance available. The human cost of repossession is very much cast aside in favour of headlines which can often be very positive or very negative. However, repossessions in the UK can very often be the start of a traumatic period for those involved which can end in tragedy and heartache.
Is now the right time for the government to reduce mortgage benefit payments?
Housing market problems sees 32,000 estate agents lose their jobs
While they may be the bane of many people's lives when looking to sell or purchase a house, the estate agency industry will end 2008 on a record low with 32,000 jobs lost over the last few months. The crash in the UK housing market has not only had repercussions for home owners throughout the UK but estate agents as well. There is also concern that the problems in the sector will continue well int...Read More
UK Homeowners Feeling Home Alone
A survey by Gocompare.com has shown that more than 3.5 million UK homeowners feel trapped in their own homes with the vast majority unable or unwilling to consider home improvements or moving location. It seems that the economic turmoil sweeping through the UK is starting to affect the thinking and attitude of home owners, something which could be a bad sign for the housing market.
Improving the attractions of your home with a lick of paint
Even in the current downbeat property market if you're looking to sell your home you need to ensure that it stands out from the rest and offers good value for money. While surveys and the like will show any potential structural damage or issues in this area it is well-known that the vast majority people will fall in love with their future home simply by looking around.
As a conseque...
Budget 2010: Help is at hand for the UK property sector
Today's budget saw Alistair Darling, the Chancellor the Exchequer, announce a doubling of the stamp duty threshold from £125,000-£250,000 for 2010 and 2011. This is a welcome move and is forecast to impact upon property purchases by nine out of ten first-time buyers in the UK although there is a sting in the tail for those with properties worth in excess of £1 million. While increasing the s...Read More
Squatters take over £30 million Park Lane mansions
It has been revealed that two empty mansions on Park Lane London, with a combined value of over £30 million, have been taken over by new-age squatters. There are serious concerns that squatters will be forced to look at vacant properties around the UK as the economic crisis continues to hit the UK public hard. It would appear that the group, which is growing by the day, obtained entry to the prop...Read More