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UK Finance's Mortgage Arrears and Possessions Update for the third quarter of 2018 reveals that:
Jackie Bennett, Director of Mortgages at UK Finance, commented:
It is encouraging that homeowner arrears and repossessions remain at historically low levels, which shows the vast majority of borrowers continue to repay their mortgages in full and on time each month.
We would always encourage anyone with concerns about making their mortgage repayments to contact their lender to discuss the advice and support available.
<ol><li>UK Finance is a trade association formed on 1 July 2017 to represent the finance and banking industry operating in the UK. It represents more than 250 firms in the UK providing credit, banking, markets and payment-related services. The new organisation brings together most of the activities previously carried out by the Asset Based Finance Association, the British Bankers? Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.</li> <li>The data shown are for first charge mortgages only. Figures are reported by most UK Finance mortgage members and presented here on a grossed-up basis from that sample to reflect total market size.</li> <li>Arrears and possessions figures are for the UK as a whole. There is no breakdown of data for English regions or for individual countries in the UK.</li> </ol>
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