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Repossessions
Santander UK profits up 10% as expansion announced
Santander UK has seen its profits rise 10% in the first six months of 2010 to £875m, with its gross mortgage lending up 14% on the same period last year to £12.3bn.
Mortgage bail out funding cut
Housing Minister Grant Shapps has announced plans to continue the Mortgage Rescue Scheme to stave off rising repossession numbers, but is set to cut funding saying the schemes must need deliver better value for money.
MMR: FSA clamps down harder on arrears charging
The FSA has promised to get a firmer grip on arrears fee charging among UK mortgage lenders, on top of the work it has already done to lenders "too quick to repossess."
Other Repossessions articles
MMR: FSA proposes affordability tests on all mortgages
The FSA is proposing imposing affordability tests for all mortgages and making lenders ultimately responsible for assessing a consumer's ability to pay.
Capstone set to rebrand away from Lehman
Previously-owned by Lehman Brothers, Capstone Mortgage Services, a third party specialist mortgage servicer is set to rebrand as Acenden.
Secured lending hits £1.241trn
Secured lending in the UK increased by £1.2bn in May to £1.241trn, as the 12-month growth rate rose to 1.1%, according to money education charity Credit Action.
Head to Head with PropertyEarth.net's Dominic Toller
In the first in a new series of head-to-head chats, Mortgage Solutions editor Victoria Hartley interviews well-known industry commentators to get a quick snapshot of the current state of the property and mortgage markets.
Private landlords increasing repossession action
Private landlords now account for 17% of all repossession claims in the rented property sector compared to 11% in 2004, according to legal information provider Sweet & Maxwell.
UK personal debt hits £1.46trn
Individuals in the UK now owe more than the whole of the UK produces in a year, according to Credit Action, with personal debt totalling £1.46trn at the end of April, an annual growth of 0.8%.
Arrears and repossessions fall
The number of mortgage borrowers in arrears and properties repossessed both fell in Q1 2010.
Santander UK writes one in five mortgages
Santander UK has announced its profits grew by over 15% in the first three months of the year to £426m, with revenue up 8%.
xit2 and Nationwide launch repossession portal
xit2 has launched an online portal to help lenders administer repossessions with Nationwide Building Society’s Specialist Lending Division.
Overseas buyers look to UK bargains
Buyers from overseas looking for a bargain have been targeting the UK probate, part-exchange and repossession markets, according to whitehot property.
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