Credit, Collections & Insolvency News
UK Finance has released its latest data on mortgage arrears and possessions for the final quarter of 2024 with the data showing a rise in housing possession and a slight fall in the total number of homeowner mortgages in arrears. Possession numbers have risen significantly in percentage terms since the artificially low numbers through the…
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StepChange Scotland has revealed a rise in the proportion of people struggling to keep up with their energy bills, council tax and mortgage at the outset of 2025. New data from the charity for the final quarter of 2024 shows over one in five (21%) clients with a responsibility for paying a mortgage are in…
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Latest mortgage lending data from the Bank of England and FCA shows that the value of outstanding mortgage balances with arrears is 18% higher than a year earlier and has risen to £21.9 billion, albeit this has declined by 0.4% compared to the previous quarter. New mortgage arrears cases (as a proportion of total outstanding balances…
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New analysis by Pepper Advantage, on its portfolio of over 100,000 UK residential mortgages has shown that the arrears environment for residential mortgages has continued to improve – albeit slightly – with a 0.8% drop in the arrears rate relative to Quarter 2 (Q2) 2024. However, the arrears rate for Buy-to-Let (BTL) mortgages continued to rise,…
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Latest mortgage lending data from UK Finance has found that there were 93,630 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in Q3 2024, 3% fewer than in the previous quarter (96,090), but 8% higher than the same quarter in 2023 (87,010). The data also showed that there were 32,860 homeowner mortgages…
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Homeowners in parts of northern England are more than twice as likely to be in mortgage arrears than those in the south, according to new analysis of Financial Conduct Authority (FCA) data by longer-term lender April Mortgages. The latest mortgage arrears data provided by the FCA shows that the North East (1.76%) has the highest…
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New Bank of England data shows that the value of outstanding mortgages in arrears hit £21.9 billion in the second quarter of this year. This marks a 32% increase on Q2 2023 and is the highest total since 2014. On a quarterly basis, the value of outstanding mortgage balances with arrears increased by 2.9% compared…
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New data from Pepper Advantage, has shown that the overall rate of mortgage arrears growth has dropped to only 1.1% in Quarter 2 (Q2) 2024. This marks the third consecutive quarterly decrease in the arrears growth rate across the company’s UK portfolio, which fell from 5.7% in Q4 2023 to 3.9% in Q1 2024. The…
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UK Finance research has found that homeowner mortgage in arrears of 2.5% or more rose by 3% in the first quarter (Q1)of 2024, compared to the previous quarter, showing that the debt pressure for many homeowners remains acute. However, the rise year on year is substantial – there were 96,580 homeowner mortgages in arrears of…
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The rate of mortgage arrears growth slowed to 3.9% in Quarter 1 from 5.7% in Quarter 4 2023, the lowest quarterly growth rate since the September 2022 when the combined effects of the cost-of-living crisis and the September 2022 Mini-Budget began to impact UK household budgets according to the latest data from Pepper Advantage. While…
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Missed payment rates among mortgage holders have returned to levels seen at the height of the cost of living crisis, Which?’s latest consumer insight tracker finds, as the Spring Budget leaves some feeling low about their future household finances. In the month (up until 8th March), 8.1 per cent of mortgage holders missed essential payments…
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Latest Bank of England figures show that the proportion of mortgages in arrears increased to its highest level since 2016 in the last three months of 2023. The share of outstanding mortgage balances in arrears rose to 1.23% in Q4 2023 from 1.12% in Q3. The value of these balances in arrears stood at £20.3…
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Latest UK Finance data has indicated that homeowner mortgages in arrears rose by 7 per cent (93,680) in the final quarter of 2023 compared to the previous quarter. Buy-to-let mortgages in arrears also increased 18 per cent to 13,570 compared to the previous quarter. 540 homeowner mortgaged properties were taken into possession in Q4, down…
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