Rates risk for repossessions

first_imgThursday 10 February 2011 8:18 pm Rates risk for repossessions More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBe whatsappcenter_img KCS-content REPOSSESSIONS fell by 24 per cent last year, while the number of mortgages in arrears also dropped, the Council of Mortgage Lenders (CML) said yesterday.Yet stubbornly high inflation has heightened the risk of a hike in interest rates, which would lead to an upturn in repossessions, the CML said.“As we go through 2011, the number of people facing payment pressures may increase if interest rates rise,” said director general Michael Coogan.The CML expects there to be 40,000 repossessions this year, up from 36,300 in 2010. At the end of last year, the number of mortgages with arrears of 2.5 per cent or more of the outstanding balance fell by 13 per cent. Of all loans, just 1.49 per cent were in arrears.The number of repossessions continued to fall in the final three months of 2010, to 7,900, down 11 per cent from the third quarter of the year – the fifth quarter in a row to have recorded a drop.In a separate statement, the CML revealed a 22 per cent rise in the value of buy-to-let mortgages last year, which now account for 11.5 per cent of all mortgages.“Tenant demand seems set to remain high in the face of continuing deposit constraints to entering the owner-occupier market,” Coogan said. Share Tags: NULLlast_img read more

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