FTBs looking at repossessions

Over 200,000 people have been actively seeking repossessed and property developer part-exchanged properties in the last six months, according to whitehotproperty.co.uk, a website selling repossession and part exchanged properties

The website is also reporting a significant rise in first time buyers using the site to find more affordable homes, with around 50 new first time buyers visiting the site everyday.

Robin King, director, whitehotproperty.co.uk, said: “Our latest figures highlight the demand for repossessed and part-exchanged properties but it is important to acknowledge that selling repossessed properties is obviously a sensitive area. They represent good deals for buyers but it’s important that every effort is made to achieve maximum price for the repossessed borrower so the maximum amount of their debt can be eliminated. Traditionally