Mortgage arrears and repossessions hit new low.

According to data from UK Finance the number of mortgages in arrears of 2.5% or more of the outstanding balance declined to 88,200 in the second quarter of this year, this figure amounted to 0.8% of the more than 11 million mortgages outstanding in the UK, the lowest level since at least 1994 when this run of data began.

The number of properties taken into possession also declined in the second quarter from 1,900 to 1,800 (accounting for 0.02% of all mortgages).

Commenting on the data, UK Finance head of mortgages Paul Smee said:

“These figures show that the overwhelming majority of borrowers are managing their mortgage payments successfully, and many of those who have experienced some difficulty in the past are able to recover their financial position.  The recent improvement in the number of mortgages with high levels of arrears is particularly welcome.

“Borrowers are being helped by low interest rates, but mortgage costs are certain to rise at some stage.  It is important therefore for customers to plan ahead and consider how their finances would be affected in those circumstances.  As ever, lenders will continue to help borrowers resolve any financial difficulty if possible, so customers should not hesitate to contact their lender if they anticipate any payment problems.”

Read the report from UK Finance dated 10th August 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More