On a slightly different note,i went to see the bank today about a property i knew they had repossessed and wanted to market.
I asked them what price they wanted for it.
I was expecting the usual,mortgae,plus costs,plus arears etc...
The bank manager said "make me an offer" thinking i already had a buyer lined up.
So if the banks will now take offers under the mortgae amount owed it is going to free up a lot of properties to the market.
The other question i suppose is,are they going to try and recoup the difference from the original owner??!