Lenders get tough again on mortgage defaulters | Mail Online
Lenders are stepping up their efforts to pursue borrowers in arrears, according to courtroom statistics and anecdotal reports from lawyers. Some lawyers even claim they are seeing a return to the harsher debt- collection practices used before the credit crunch.
From early 2009, the Government leant heavily on lenders to hold back from repossessing homes or taking draconian action.
Repossessions in 2009 and 2010 were lower than predicted and lenders allowed arrears to build. In early 2007, for instance, 127,000 mortgages were more than three months behind on payments, compared with today’s figure of 239,000.
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