House prices keep dropping.

July 8, 2008 · Filed Under Property News · Comments Off 

House prices fell for an eighth straight month in June to stand more than 7 percent below the peak hit last year, a survey showed on Tuesday which is likely to fan fears the market is on the verge of a crash.

The Nationwide building society said prices fell 0.9 percent last month after a 2.5 percent drop in May which had been the sharpest fall since the series began in 1991.

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Repossessions inundated free lawyers

June 8, 2008 · Filed Under Finance News, Property News · Comments Off 

More people are facing repossession of their homes

Homeowners threatened with repossession are being denied free legal advice because lawyers who provide it are being swamped, says a charity.

Transact, which promotes effective money management, blames the credit crunch for the soaring number of cases.

Research suggests that repossession is more likely if homeowners fail to get proper legal advice.

The charity is calling for more expert help for people in court facing the loss of their homes.

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