Avoid Home Repossessions with Mortgage Protection Insurance
The Council of Mortgage Lenders has just published statistics on mortgage arrears and possessions. Worringly but hardly surprising, the figures for 2008 show a sharp rise on the same period last year.
Key Facts include:
• 5,000 fewer repossessions than forecast in 2008 • 40,000 repossessions in the year - 1 in 290 mortgages • 10,400 repossessions in the fourth quarter - 1 in 1,100 mortgages • 1 in 64 mortgages in arrears of 2.5% or more • 1 in 53 mortgages in arrears of three months or more (inflated by lower interest rates) • 75,000 repossessions forecast for 2009 remains unchanged
Around 10,400 properties were taken into possession by first charge mortgage lenders in the fourth quarter of 2008, down from 11,100 in the previous quarter but up from 6,900 in the fourth quarter of 2007, according to the Council of Mortgage Lenders.
The total number of first-charge repossessions in the year was an estimated 40,000.
This was 5,000 lower than the CML's original forecast for the year.
The fact that there were 11% fewer repossessions than expected, despite a worsening economy and unemployment rising by the thousands daily, appears to show that the mortgage lenders appear to be listening to the Government somewhat, to ensure that repossession really is a last resort.
It is important to recognise that repossessions include a proportion of abandoned properties and property fraud. They also include buy-to-let repossessions, as well as home-owner repossessions. In the majority of cases where home-owners are committed to working with their mortgage lender to keep their home the CML states that repossessions can be avoided.
Specialist Bike Insurance for Off Roading Enduro Racing
On one of the hottest days of last year (were there any?) before the rains took over, we drove up into the wildlands of Cornwall to watch an Enduro Bike Racing Championship event.
Insurance Blogger was obviously looking at everything with risk in mind and saw many spectacular falls and 'crashes' enough to turn an experienced underwriter grey, instantly.
Talking to the people involved and their fanatical family followers, you soon learn why Enduro racing is such a popular and rapidly growing sport. Many 'road' bikers are selling their big road bikes and investing in much smaller machines such as the KTM range of trials / off road / motor cross / call it what you want type of weekend bike. And beleive it or not the all tell you the same thing.....
That riding a trials bike around forests and streams and mountains and bogs and moors, is far safer than riding a bike on the road to work everyday, and is a great way to stay alive and yet still enjoy the thrill of biking. One of the reasons is the modern body armour worn by all but a few of the most foolhardy racers, which usually prevents damage to just bruising when you go head first into a tree at fifty miles an hour.
So I was not so surprised to learn later that you can get tailored Enduro Bike Racing Accident Insurance cover and sports accident travel insurance to protect you against personal injuries sustained while enduro racing. There's a whole range of cover options available at Personal Accident Insurance, where they'll obtain basic motorbike insurance cover for your bike as well if required.
When the most succesful British (German owned) car of the last fifty years is laying off workers, it only emphasises the depth and breadth of the spread of the global economic downturn contagion.
BMW owned Mini based at the old Morris plant at Cowley Oxford, today announced the redundancy of 850 of its workers. The company which ships over 250000 Minis every year atound the world, has seen its sales in January 2009 drop by an astounding 35%, reflecting the drop in demand felt by the rest of Britain's ailing motor manufacturing industry.
The redundancies are sure to be felt by supply workers who make parts for the Mini and distribution workers who are having extreme difficulties selling them. There is estimated to be over 10000 minis awaiting shipment abroad at Southampton docks.
If you are one of the lucky workers who still hold down a job in the car manufacturing and associated industries we urge you to consider taking out Redundancy Insurance - given the latest number of layoffs across the country -no car manufacturer job can be considered safe. Plan for your future economic welfare now before it's too late.
Well done Sky news for reporting on the rise in the number of fraudulent claims for car insurance some of which are putting lives at risk. They were however two months behind the times as we were reporting the effects of the recession on increased fraud over two months ago! Car Insurance Fraud.
The report by Sky news dealt mostly with organised gangs of east europeans arranging accidents, usually rear end shunts from braking. They also featured a very dubious character who said he was a professional 'car torcher', who sets fire to expensive cars so that their owners can collect on a claim.
Insurance Blog is dedicated to all things happening in the Insurance World. From tips on where to get the best insurance deals to news from the Insurance Industry, you'll find answers at Insurance Blog
About Me
Name: Insurance Blogger
Location: United Kingdom
Insurance Internet Guru
Enjoy:
All things Insurance and anything related to the UK Insurance Market
