Upper Class family are left £5 million in debt.

Five years ago, Charles and Iona Cole led an extravagant life that many of us cou;d only dream about. Their home was a £2.25 million manor house in the heart of Devon set in 214 acres, with matching luxury cars on the long and windy driveway, not to

Frozen out of the Mortgage market and being penalized to pay rent.

The number of people who cannot find enough money for a deposit to get a mortgage are in a far worse position than ever before. Nowadays it costs more to rent than to be paying a mortgage on the very same property in many of the towns and cities in B

Buyers Will Be Forced To Borrow Less Under New Mortgage Rules.

Homebuyers will now find it harder to obtain a mortgage once rules planned by the Financial Services Authority come into force. Homebuyers will find it harder to qualify because the rules will become more stringent. The way that these will be impos

Louis Walsh is hit in Irish Property crash.

Louis Walsh has spoken out about the 10 million euros he has lost during the property downturn due to the slump in the economic climate. The X factor judge and music mogul who has six properties around the world which include four homes in Dublin Ir

Repossession, Foreclosures, The Facts.

If you fall behind on your mortgage or rent repayments then your lender or landlord has every right to reclaim their property back, even if you are only a few months behind. When you receive the official letters in the post it can be quite a frighte

Boss of UKAR Warns Of A Tsunami Of Repossessions.

Richard Banks is the chief executive of UKAR (UK Asset Resolution, this was formed from the remains of what was Northern Rock and Bradford and Bingley. He believes that rising interest rates will create a tsunami of repossessions similar to that of

Repossessions and Foreclosures On The Increase Because Of Another Economic Downturn.

However not all of the well off are celebrating either. Tony Pidgley Jnr is the son of the volume house builder the Berkeley Group owner Tony Pidgley and even he is finding it extremely difficult to sell his equestrian abode. The home in question i

Is America drowning in a sea negative equity?

More than 14 million homeowners in America now owe more on their mortgages than what their houses are actually worth. Although house prices have actually risen in the third quarter experts are saying that the broader economy can still shock property

Home owners have to cut their asking price to sell their properties.

House sales in October saw a sharp jump due to house sellers realising that they had to significantly lower their asking prices if they wanted to sell their homes and not linger for a long time on the housing market. Even house prices in London wer

Repossessions Rise As More Families Lose Their Homes.

Many struggling families are going to be forced to the wall as the consumer squeeze results in a sharp rise in home repossessions, thousands of families in Britain will be affected. Economists fear that because incomes are failing to match inflation