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Darren Beddard Group moderator
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Courts issued 114,000 repossession
County courts in England and Wales issued 114,275 repossession orders in 2008.

In the final quarter of 2008, the Ministry of Justice (MoJ) stats reveal, 29,095 mortgage possession orders were made – 14 per cent higher than in the fourth quarter of 2007.

However, 46 per cent of mortgage possession orders were suspended.

In November, the MoJ introduced a mortgage pre-action protocol providing guidance to courts on what lenders and borrowers must do before a repossession occurs.

The MoJ claims, since the introduction of the protocol, there has been a 50 per cent drop in repossession claims.

Government figures also show company winding up petitions rose 17.7 per cent in the fourth quarter of 2008.

find out more

http://www.aboutproperty.co.uk/news/property-finance/mortgag...

ifa wealth forum
- 20 Feb 2009, 3:12 pm
Darren Beddard wrote: > County courts in England and Wales issued 114,275 repossession orders > in 2008. > > In the final quarter of 2008, the Ministry of Justice (MoJ) stats > reveal, 29,095 mortgage possession orders were made – 14 per cent > higher than in the fourth quarter of 2007. > > However, 46 per cent of mortgage possession orders were suspended. > > In November, the MoJ introduced a mortgage pre-action protocol > providing guidance to courts on what lenders and borrowers must do > before a repossession occurs. > > The MoJ claims, since the introduction of the protocol, there has > been a 50 per cent drop in repossession claims. > > Government figures also show company winding up petitions rose 17.7 > per cent in the fourth quarter of 2008. > > find out more > > http://www.aboutproperty.co.uk/news/property-finance/mortgages/courts-issued-114-000-repossession-orders-and-20-000-bankruptcy-petitions-in-2008-$1271132.htm > > ifa wealth forum

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Courts issued 114,000 repossession