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Home repossessions
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Britain faces a wave of home repossessions when interest rates begin to rise again, one of the country’s leading bankers has warned.
A scheme aimed at preventing people losing their homes in England proved to be below target but above budget, according to a report by the Audit Commission.
Goldman Sachs has angrily defended itself against a public campaign claiming the bank is exacerbating global food crises through its commodity trading operations.
Other repossessions articles
The number of mortgage borrowers in arrears and properties repossessed both fell in Q1 2010.
Distressed bank Northern Rock recorded a statutory loss of £257m in 2009, compared to a loss of £1.4bn the previous year.
Housing minister John Healey today controversially claimed repossession can be "the best option" for some homeowners.
The FSA is set to tighten its rules on how lenders deal with mortgage arrears and repossessions.
The National Association of Pension Funds (NAPF) has told Britain’s biggest companies to keep the lid on executive pay and bonuses or risk shareholder revolts, as it steps up its campaign to improve corporate governance in UK boardrooms.
UK home repossessions fell by 10% in the second quarter of the year compared with the first three months of 2009, figures from the Council of Mortgage Lenders (CML) suggest.
Northern Rock has made a loss of £724.2m in the first half of the year due to a rise in arrears and writedowns.
The Association of Mortgage Intermediaries (AMI) has written to Liberal Democrat Shadow Chancellor Vince Cable ahead of tomorrow's parliamentary debate on repossessions, warning of dire consequences if effective measures are not implemented immediately.
Independent protection insurance specialist Burgesses has accused mortgage intermediaries of being 'asleep at the wheel' when assessing borrowers' affordability for mortgage products.
Property First Asset Management has launched UK Property Recovery No 4 LP, a bespoke fund focused on acquiring property that has been reposed or is under threat of repossession.
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