Arrears and possessions data

According to recent figures released by UK Finance, their members have reported a 19% increase in residential repossessions in Q3 of 2019, compared to the same period the previous year. This is still much lower than the numbers seen in 2009 and 2014 and represents 0.79% of all residential mortgages. Buy-to-Let repossessions were up by 40% in the same timeframe and it’s thought that this recent peak may be down to lenders working through their backlogs which were delayed due to compliance with the most recent regulatory requirements and taking possession as a last resort. To see this report and more information on mortgage trends over this time period click here