http://news.bbc.co.uk/1/hi/business/7548877.stm
The number of properties repossessed by mortgage lenders in the UK rose by 41% in the first half of 2008, to 18,900, the Council of Mortgage Lenders says.
The sharp rise had been widely expected as an economic slowdown makes it harder for some homeowners to repay mortgages.
Repossessions have been rising since the second half of 2004 but have now begun to accelerate.
The number of mortgages in arrears has also risen, up by 20% in the first half of the year, to 155,600.
http://news.bbc.co.uk/1/hi/business/7548646.stm
Royal Bank of Scotland (RBS) has posted a pre-tax loss of £691m during the first six months of 2008, the second-biggest loss in UK banking history.
RBS, which owns NatWest bank, said it was hit by £5.9bn of write-downs after the credit crunch cut the value of many of its mortgages and assets.
The bank made a profit of £5bn during the same period last year.
The number of properties repossessed by mortgage lenders in the UK rose by 41% in the first half of 2008, to 18,900, the Council of Mortgage Lenders says.
The sharp rise had been widely expected as an economic slowdown makes it harder for some homeowners to repay mortgages.
Repossessions have been rising since the second half of 2004 but have now begun to accelerate.
The number of mortgages in arrears has also risen, up by 20% in the first half of the year, to 155,600.
http://news.bbc.co.uk/1/hi/business/7548646.stm
Royal Bank of Scotland (RBS) has posted a pre-tax loss of £691m during the first six months of 2008, the second-biggest loss in UK banking history.
RBS, which owns NatWest bank, said it was hit by £5.9bn of write-downs after the credit crunch cut the value of many of its mortgages and assets.
The bank made a profit of £5bn during the same period last year.
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