 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS House repossessions and mortgage arrears fall  People using residential property conveyancing services are less likely to lose their home now than in 2009, according to new figures from the Council of Mortgage Lenders (CML). House repossessions in 2010 fell to 36,300, 24 per cent lower than in 2009, while the level of mortgage arrears also slipped back. However, the CML expects to see more repossessions and mortgage arrears in 2011, especially if interest rates rise. Today (February 10th), the Bank of England announced that it will maintain the base rate at 0.5 per cent. CML director-general Michael Coogan said people concerned about making their payments should seek advice "at an early stage". "This helps to prevent problems escalating and becoming more difficult to resolve. As the numbers clearly demonstrate, repossession is a last resort," he added. The news was welcomed by housing minister Grant Shapps, who said that "too many people are still worrying about losing their homes without seeking support". He admitted that challenges remain for homeowners in 2011, adding that the best way for the government to help is to reduce the deficit. Posted by Gaby Hamerton 
Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 17/4/2012 - Further regulation to encourage family mediation: justice minster 2/4/2012 - Fuel tanker driver dispute talks scheduled for Wednesday 23/3/2012 - Landowners urged to take more responsibility for falling trees 22/3/2012 - Justice reforms move a step closer More Dispute Resolution News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |