Repossessions 'fall by 50%' at Co-operative Bank

www.moneynews.co.uk > Debt > Repossessions 'fall by 50%' at Co-operative Bank

Repossessions 'fall by 50%' at Co-operative Bank

Fri 15th May 2009

Customers of the Co-operative bank will no doubt be pleased that at the news that it has reduced the number of repossessions it has made over the last 16 months by 50 per cent.

The organisation has revealed that it was only been involved in eight repossessions within this timeframe, in comparison to 16 during the previous 16-month period.

Terry Jordan, head of mortgages at the bank, said that the bank sees repossessions as a final option and is committed to keeping people in their homes.

Mr Jordan stated: "Our responsible approach to lending has also resulted in a strong mortgage book as we believe in only lending to people what they are able to afford."

He added that customers who come into financial difficulties can speak to any of the company's specialist personal mortgage advisors for tips on better managing their finances.

Meanwhile, AdviceUK, Citizens Advice Bureau, the Money Advice Trust and Shelter recently collaborated to conduct a survey on repossessions - which they say concludes that not enough is being done by lenders to tackle rising cases of it.

Click here for more property news

Related News : Debt
	Lessons in financial responsibility 'are important for young people'
	Payday loans 'can lead to significant financial difficulties'
	Brits 'becoming more focused on financial wellbeing'
	Serious debt issues emerging, says expert
	More women 'are facing debt problems'
	Debts 'down slightly in February'
	Brits 'should focus on reducing borrowings'
	Paying down debt is 'better value than saving'
	January a 'gloomy month' for indebted Brits
	Most expensive debts 'must be paid first'

Related News : Cooperative
	Co-op announces banking improvements to premier accounts
	Platform launches innovative let-to-buy mortgage product
	Mortgage lending increased in June, according to CML
	Co-op closes older pension schemes but promises increase in contributions
	Co-operative announces reductions to mortgage rates
	Co-operative Bank and Britannia reduce mortgage rates
	Platform says remortgage deals set to be a focus
	Co-operative Bank wants fixed rate mortgage customers to make further payments
	Platform hopes to develop its buy to let mortgage presence
	Savings account provider Co-operative highlights ethical success