Tag: repossession
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What is a Repossession in Scotland and are Repossessions in Scotland a Bargain for the Buyer?
When somebody with a mortgage doesn’t keep up repayments on their mortgage, they will be in breach of the agreement that they entered into with their lender. The lender, to recover the money that they have lent to the borrower, can insist that the property is sold. The process of the lender taking full control…
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Bank Chief Warns of Repossession Tsunami and Recommends ‘Tough Love’ Approach – Who’s Getting the Tough and Who’s Getting The Love?
The Chief Executive of one of the UK’s largest lenders has warned that, when interest rates go up, the number of repossessions could become a ‘tsunami’. All this just a day after the Bank of International Settlements (which I’ve seen described as ‘the Central Bank for Central Banks’) said that the policy of the Bank…