Credit, Collections & Insolvency News
Latest Bank of England of England data has reported that lenders have seen mortgage defaults rose in the three months to the end of September and are expected to do so again in the last three months of 2024. The recent rise in default rates was lower than the banks had expected. However, in the last…
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A Bank of England survey of lenders shows that mortgage defaults have risen at their fastest pace since 2009. The Bank’s research through its Credit Conditions Survey shows that the net percentage balance of defaults on secured loans to households jumped from 30.9% to 43.3% over the previous quarter, indicating that defaults had increased sharply…
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As interest rates rise, mortgages in London postcodes are at the highest risk of default, according to a new analysis by Mazars. The analysis found that 19 out of the top 20 postcodes with the most risky mortgages, defined as loans at least 4.5 times the borrower’s earnings, were in London. South West London dominated…
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