It makes no sense, but it's, politically, a very sensitive issue.
And politicians don't care about sense, economic or otherwise. They care about re-election.
The repossessions are a disaster waiting to happen. As it is there are already 100,000 people on a waiting list to be placed in social housing. Can we really afford to add to that number?
With introduction of Personal Insolvency Act can we expect a large number of foreclosed properties to hit the market soon?
who will deny the likes of myself the opportunity to trade up at a reasonable price.
The repossessions are a disaster waiting to happen. As it is there are already 100,000 people on a waiting list to be placed in social housing. Can we really afford to add to that number?
My own view is that the Banks don,t have the bottle to make decisions, the Politicians are being dragged every way. LET THE CUSTOMER make his decision on his current and medium situation as this CANCER is killing people slowly.
I don,t think so , there will be an initial increase on the absolutely hopeless/keys left in ,etc. Banks are starting t get their {little} heads around managing down an issue as distinct from winding up values.they might be pleasantly surprised at the outcome as an agreed deal always beats firesales, but then again maybe they are still rabbits in headlights !!!With introduction of Personal Insolvency Act can we expect a large number of foreclosed properties to hit the market soon?
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