How repossessions reveal the hidden truth about modern housing
Two legal frameworks dictate how a lender should proceed when their borrower is in arrears: the mortgage conduct of business rules and the mortgage pre-action protocol. Both clearly state that repossession should only be pursued after all other …
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Sands to resign as BMC chairman
Arrears now make up approximately 34.52 percent of its total portfolio. The chairman's resignation is not altogether surprising, however. Last month, the PLP unveiled 10-point plan to tackle the mortgage crisis, which Sands called "pandering at its …
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In Spain, we smell bond market blood
With unemployment showing absolutely no sign of declining, mortgage arrears will be the major hurdle for the banks to overcome. Do they foreclose and take hold of an asset that could only be sold at fire sale levels, or allow delinquent mortgage …
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