New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Mortgage repossessions sensationalised, expert states

Thu, 30 Oct 2008

Figures on mortgage repossessions have been "sensationalised", according to one expert.

Peter Williams, executive director of the Intermediary Mortgage Lenders Association (IMLA), explained that although the figure has increased by 71 per cent year-on-year, this is from a "relatively low base".

Despite the fact the possessions are increasing and there will be around 40,000 of them this year, this will still be well under one per cent of all outstanding mortgages, he stated.

" Lenders and indeed the government are working to keep people in their homes by offering better advice to those in difficulty," Mr Williams said.

Talking up repossessions is further undermining confidence in the mortgage market, he added.

Yesterday, a study by Moneyfacts.co.uk found that the average cost of a tracker rate mortgage is more than it was this time last year.

This is despite a 1.25 per cent fall in the Bank of England base rate during this time.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.
Sign the petition

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter