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UK homeowners fall behind with mortgage repayments

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  • UK homeowners fall behind with mortgage repayments

    Over 20% of sub-prime homeowners in the UK have mortgage arrears of more than 30 days according to Standard and Poor’s first quarter report.Standard and Poor’s Ratings Services’ total delinquency index rose to 21.73% in the first quarter of the year, compared with 19.41% in the previous quarter and 18.11% in the first quarter of [...]

    More: UK homeowners fall behind with mortgage repayments

  • #2
    Not all bad news

    Although uk mortgage holders are falling behind with there payments far fewer of them are likely to lose there homes than in the early nineties, for a variety of reasons. More people bought with larger deposits, also only 30% of people have interest only mortgages compared with more than 70% in the 90s also job security and a faltering but not altogether bad economy add up to less repos and a faster recovering housing market.
    ppp
    Investment property Sarah

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    • #3
      Problem is if you were tied in

      I had a mortgage where I was tied in for 2 years, and it's just gone up from £465 to £675. There are no good deals around, and my mortgage provider (Northern Rock) won't even let me borrow any money out. I think they want me to move so they can realise some more money!

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      • #4
        PPP dont forget that back in the 90's all these interest only mortgages had endowments running along side. These days peole are stretched so far they are on pure I/O, which is a recipe for dissaster.

        Oh hi I'm new
        http://www.jpfinancial.co.uk/

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        • #5
          Welcome to the forums.

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          • #6
            Originally posted by braegheneffe View Post
            I had a mortgage where I was tied in for 2 years, and it's just gone up from £465 to £675. There are no good deals around, and my mortgage provider (Northern Rock) won't even let me borrow any money out. I think they want me to move so they can realise some more money!


            Ohhhh, I think they may want you to leave too. Your better off with someone else anyways Brae......
            Becky

            www.fruitmortgages.com

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            • #7
              The government is doing a poor job running the country so can't imagine it would be good at running a bank.

              There are still good deals about it you have decent income, not massive other debts and not massive LTV.
              UK pension annuity IFA advisor Get more via your OMO
              Dubai mortgages bank accounts financial services

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              • #8
                Northern rock now have some competative deals, but I would not recomend them the brand name is dammged goods.
                http://www.jpfinancial.co.uk/

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