Home repossessions soar to eight-year high - Times Online
House prices are still going up. Interest rates will probably keep going up. Individual Voluntary Agreements have gone down a bit (because lenders are stopping it). Repossesions are up 30% to 14,000 in the last 6 months.
Now, OK, it’s still only a 1/4 of the repossesions from the previous housing crash, but with millions of low fixed-rate mortgages coming to an end in the next couple of years, there’s going to be a lot more repos.
That’ll dump many more properties on the market via auction and that’ll lower prices.
Negative equity, anyone? No thanks…
