House repossessions fall, whilst sales rise - Mortgages - News |

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

House repossessions fall, whilst sales rise

House repossessions fall, whilst sales rise

Category: Mortgages

Updated: 28/02/2013
First Published: 28/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Figures released by the Land Registry have revealed an 11% annual fall in the number of homes repossessed in November last year, down from 1,777 in 2011 to 1,589.

The majority of homes claimed back by mortgage lenders occurred in the North West of England where a total of 347 homes were repossessed compared with 44 in the North East.

Property sales increased on a monthly basis from 60,369 to 61,091, with a typical home in England and Wales fetching £162,441 in January this year, a 1% increase compared with the same month in 2011.

London, unsurprisingly, remained the most expensive region in the country with the average home valued at £373,207 last month. This reflected a 7.1% increase from the year before.

What next?

Mortgage repayment calculator
Compare 2 year fixed rate mortgages
Compare 3 year fixed rate mortgages
Compare 5 year and over fixed rate mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Building societies winning the mortgage rate war

Competition is fierce in the mortgage market, and borrowers may assume that the rates from banks will be significantly lower than those elsewhere. However, things aren’t as they seem, as building societies are the winners of the mortgage rate war.

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.