Around a million mortgage and rent payments have been made using credit card debt according to housing charity Shelter’s research. The study worryingly found that almost 6% of homes had strugged with their debt management and had needed to resort to using a credit card to pay for their rent or mortgage over the last [...]
mortgages
Thousands of homeowners to avoid repossession by legal loophole closure
The government has announced plans to prevent lenders from repossessing properties without first going to court, by closing a legal loophole. Plans to be announced tomorrow mean that mortgage lenders will be barred from seizing a borrower’s property without first seeking a court order. The proposals come after a campaign by charities which started following [...]
Mortgage lenders quick to seek repossessions
According to a recent figures, mortgage lenders have failed to exhaust all other opportunities that would enable homeowners to avoid repossession in a third of cases. Under legal rules, mortgage lenders are expected to only repossess a property as a last resort, however the report by a number of charity groups (including Shelter and the [...]
