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Practice group news
Future of equity release remains strong, says group
16 February 2010
Tories reveal plans to increase stamp duty threshold
9 February 2010
Consultation launched on charging orders
9 February 2010
Deposit protection legislation is working, says group
1 February 2010
More protection to be offered to homeowners in arrears
27 January 2010
End of an era as Ian Johnson retires from B P Collins
26 January 2010
Cable: UK faces repossession time bomb
01 July 2009
Liberal Democrat Shadow Chancellor Vince Cable has warned that the UK faces a repossession time bomb if figures are not addressed. Speaking at the Westminster Hall debate on housing repossessions, he said the government's Mortgage Rescue Scheme had so far proved ineffective in addressing the problem.
"Helping just six families is absolutely pitiful and doesn't even begin to address the scale of the problem," he told delegates. Red tape is preventing people from being able to stay in their homes, Mr Cable suggested, and some people believe they are entitled to mortgage support when in fact they are not.
He also predicted soaring levels of repossessions as the unemployment rate continues to rise, accusing government schemes of deferring the problem rather than offering a solution. "If interest rates start to rise next year, the problem will become even more severe," he added.
If you require legal advice, for either your private affairs or organisation, please call Buckinghamshire based B P Collins Solicitors on 01753 889995, complete the online enquiry form or email enquiries@bpcollins.co.uk.
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