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British Sees More Property Reposessions.(Brief article)
Mortgage Servicing News
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October 01, 2007 |
COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
LONDON -- The United Kingdom has seen a "significant" rise in property repossessions, according to new, revised statistics from the Council of Mortgage Lenders here.
The number of U.K. properties taken into possession during the first half of the year was up close to 30% compared to the same period last year and up 18% compared to the previous six-month period, according to the council.
"Interest rates are clearly higher than many were expecting and are set to remain so. And the greater risks inherent in subprime lending are resulting in ...
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Source: HighBeam Research, British Sees More Property Reposessions.(Brief article)