According to figures released by the Council of Mortgage lenders (CML), the Government have helped 300,000 homeowners avoid repossession to date. This is great news but as Housing Minister John Healey MP told a recent CML conference, some lenders are still repossessing properties before considering alternative options.
The Financial Services Authority (FSA) refuses to name these lenders which has angered many industry journalists and campaigners. However, the financial watchdog will bare its teeth if necessary as we read in a repossession.net blog post last week. We can only hope that the FSA find enough dirt on these home-snatching vagabonds to be able to issue a hefty and ever so slightly crippling fine.
Tags: avoid repossession, house repossession, repossession, repossession order, stop repossession