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At last good news, property repossessions remain low

The level of property repossession in Britain has held steady in the third quarter of 2011. 9200 properties were repossessed, compared to 9100 in Q2, according to the Council of Mortgage Lenders (CML). In total, over the course of 2011, 27500 properties have been repossessed and that's down on 2010. The CML predicts there will be fewer repossession in 2011 than last year. Considering the... Read more

Posted by Dan @ Upad on November 11th, 2011 in Buy-to-let, Mortgages, Rent Arrears

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Half of landlord repossessions related to rent arrears

The National Landlord Association reports that nearly a half of landlord repossessions are the result of tenant rent arrears. The report shows that 47% of landlords who suffered repossession had suffered rent arrears. NLA Chairman David Salusbury said: “gaining possession can be very costly for landlords, especially when it is related to rental arrears. Many landlords have mortgages to pay... Read more

Posted by Dan @ Upad on August 19th, 2010 in Property Rental

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Coalition keeps protection against eviction for tenants

The Painsmith blog has news that the new government will be keeping protection for tenants when landlords fail to pay their mortgages. Before the Act, if the landlord had not obtained permission to let from their mortgage lender and then failed to keep up mortgage payments, the tenant had no protection from repossession: they could be thrown out of their homes with little or no notice.... Read more

Posted by Sue @ Upad on July 13th, 2010 in Buy-to-let, Mortgages, Property Management