U.K. – State owned banks still repossessing homes, 6,700 homes in the last 6 months

www.thelondondailynews.com

The bailout of the banks using taxpayers money was meant to prevent home repossessions to rise, but a report published by banks has shown that 6,7000 homes have been repossessed in the last six months from banks like the Lloyds which is 43% owned by the taxpayer.

The figures released by the banks for the last six months has shown that at the top of the list was the Halifax with 3,000 properties repossessed, Northern Rock which is fully owned by the state saw 2,522 repossessions with the Royal Bank of Scotland, 70% owned state owned bank with 567 repossessions.

The actual number of homes being repossessed by the banks is falling in comparison to last year with Lloyds claiming that repossessions were down 7% on last year and Northern Rock claiming there were 1000 properties less repossessed.

The Council of Mortgage of Lenders has said that its forecast for repossessions for this year will be down from 75,000 to 65,000 which reflects the positive effect lower interests is having on home owners ability to pay their mortgages. Read full article…

Related posts:

1. Banks profiteering on mortgages with record gap between borrowing and lending rate Banks are making the highest profits on mortgages since...
2. Could the EU ‘house grab’ law be applied to UK homes? www.dailymail.co.uk British citizens could have their homes snatched from...
3. Banks could need further bailout as shares tumble www.independent.ie IRISH bank shares dropped substantially yesterday amid warnings...
4. Australia – mandatory energy efficiency assessment – costing up to $1500 to sell, rent – to ‘tackle carbon emissions’ www.news.com.au February 07 ALL Australian homes will have to...
5. Banks accused of fleecing firms in wake of bailout Irish Independent By Michael Brennan Political Correspondent Monday March...
6. Desmond sells off shares in top banks www.independent.ie BILLIONAIRE Dermot Desmond sold a substantial amount of...
7. Royal Bank of Scotland to pay record bonuses of up to £5m business.timesonline.co.uk THE state-owned Royal Bank of Scotland is planning...
8. Banks loaned 100pc as market collapsed www.independent.ie BANKS continued to sell 100pc mortgages throughout last...
9. Israel creates first ‘army-owned’ university NAZARETH – The Palestinian Chronicle Monday, February 8, 2010...
10. Ireland: Most small firms now expect Nama to fail www.independent.ie ALMOST two-thirds of Ireland’s small business owners are...