Arrears and possessions

Data Published on 14/05/2020

Trends covering arrears and possessions of property linked to first charge mortgages provided by members.

Latest Data - Q1 2020

Key data highlights:

  • There were 72,380 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2020, 6 per cent fewer than in the same quarter of the previous year.
  • Within the total, there were 22,050 homeowner mortgages with more significant arrears (representing 10 per cent or more of the outstanding balance). This was 6 per cent fewer than in the same quarter of the previous year.
  • There were 4,420 buy-to-let mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2020, 6 per cent fewer than in the same quarter of the previous year.
  • Within the total, there were 1,170 buy-to-let mortgages with more significant arrears (representing 10 per cent or more of the outstanding balance). This was 3 per cent fewer than in the same quarter of the previous year.
  • The relatively small increase in arrears compared to Q4 2019 is likely due to the early effects of Covid-19, and the industry has since introduced multiple forbearance measures to reduce financial difficulties for borrowers who are in need of support. The level of arrears remain low by historical comparisons. More information can be found in the blog accompanying this release here.
  • 1,070 homeowner mortgaged properties were taken into possession in the first quarter of 2020, 23 per cent fewer than in the same quarter of the previous year.
  • 640 buy-to-let mortgaged properties were taken into possession in the first quarter of 2020, 8 per cent more than in the same quarter of the previous year.

Mortgage Arrears Possessions Update - 14 May 2020

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