If you’re feeling chipper, look away now because the Council of Mortgage Lenders (CML) have some less than positive predictions on UK home ownership. The believe that the number of home owners will continue to fall due more people being unable to avoid house repossession issues, credit problems and low a low supply of properties.
The latter of these 3 could be deemed as good news for current home owners as it will see prices rise in line with demand but it also means few people can afford to buy meaning a slow market for all concerned. To try and ease the situation, the CML has suggested the Government encourage more lending but whether the banks will listen is another thing.
Tags: avoid repossession, house repossession, repossession order, stop repossession