mortgage debt

Mortgage borrowing increases

2nd May 2025 Arrears and Recoveries | #mortgage debt

Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased sharply by £9.7 billion to £13 billion in March, following a decrease in net borrowing of £1.0 billion to £3.3 billion in February. The annual growth rate for net mortgage lending rose from 1.9% to 2.7% in March, the…

Half a million retirees are still paying off their mortgages

10th July 2024 Consumer Collections | #mortgage debt

More than half a million retirees in the UK still have not paid off their mortgages, according to research from SunLife. SunLife surveyed 2,000 people over 50 and discovered that of the two thirds (68%) that are homeowners, more than 1 in 5 (23%) are still paying off their mortgage. And while most (87%) of…

Average household spends £406 on monthly debt repayments

26th February 2024 Arrears and Recoveries | #mortgage debt

The average household spends £406 on monthly debt repayments, excluding the mortgage according to HL Savings & Resilience Barometer. The research showed that those with mortgages spend an average of £814 on top of this with almost one in ten households (9%) in arrears. Among the lowest fifth of earners this rises to 27%. The…

Mortgage customers using funds for debt consolidation doubles

6th September 2023 Arrears and Recoveries | #mortgage debt

The number of people using the funds from their 50+ mortgage for debt consolidation has doubled in the year to date compared with 2022, Hodge data has found. Hodge data analysts delved into its completion data and found that in 2022 7% of 50+ mortgage customers said they had used their funds for debt consolidation.…

Mortgage holders face shortfall of £150 a month

25th July 2023 Arrears and Recoveries | #mortgage debt

An increasing number of mortgage holders are unable to make ends meet as their essential costs soar and interest rate rises start to bite according to research by Citizens Advice. Mortgage holders who’ve had detailed budgeting help as part of Citizens Advice’s debt advice process have gone from being one of the most protected groups…

Second charge mortgages grew by 36% in November

17th January 2022 Arrears and Recoveries | #mortgage debt

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 36% in November 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

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