Repossessions fell in 2015

February 15, 2016

Figures from mortgage lenders show that the number of homes repossessed  fell to an 11 year low in 2015. Across the UK 10,200 repossessions were recorded  in 2015, almost half the 20,900 cases recorded in 2014,  that is according to  the Council of Mortgage Lenders (CML). They reportedly pointed out that a court case which caused some lenders to review their processes may have affected the figures, so caution should be taken when making a comparison between the 2 years.

Less than one per cent of mortgages were  in arrears last year, the number of mortgages in the most severe arrears was also fewer in number. According to mortgage servicer HML it has seen a sharp decline in mortgages in arrears thanks to efforts to work with borrowers who are behind with payments.

​Andrew Jones CEO of HML reportedly said: “HML does everything we can on behalf of clients to work with borrowers, particularly those significantly behind on their payments, to find a solution that takes into consideration their circumstances.”

Very low interest rates and low inflation have been helping to ease some of the pressures on the budget’s of home owners, during  last year many mortgage lenders have offered some of their lowest ever rates,  experts are expecting  rates to remain low for some time to come.

 

 

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

Rightmove logo
Breaking News

Richmond upon Thames crowned 2026’s happiest place to live

Richmond upon Thames has been crowned the happiest place to live in Great Britain, reclaiming the top spot after winning in 2023 and finishing second last year In second place is Harrogate in Yorkshire and the Humber, and in third place is Cirencester, Gloucestershire in the South West Kirkcaldy is the happiest place in Scotland,…
Read More →
Estate Agent Talk

What the sector must do differently to engage with young people

By Neil Louth – Group Executive Director, LRG and CEO, Acorn Group The property sector needs to start by recognising that younger buyers are not simply less committed to homeownership. Many still want the security and long-term stability it can offer, but they are making that judgement in a very different market. Deposits take longer…
Read More →
Breaking News

Persistent decline to give way to recovery in 2027

Glenigan’s Autumn 2026 Construction Forecast maintains that sector growth will revive in 2027, despite a challenging year of market stagnation Following a sluggish end to 2026, construction is set to rebound from 2027 onwards as public sector building increases Significant value gains expected for health, education, civils, offices and data centre projects Private and social…
Read More →
Estate Agent Talk

The Plumbing and Electrical Problems That Quietly Kill Sales and Lettings

We’ve all had one of these. The offer’s agreed. Everyone’s happy. The memorandum of sale has gone out, and you’re already mentally banking the fee. Then the buyer’s survey comes back. “Electrics appear dated. Recommend inspection by a qualified electrician.” And just like that, the mood changes. The buyer starts asking about a reduction. The…
Read More →
Breaking News

Rental price and average salary tracker – October 2026

Rental prices rise across most regions as affordability pressures persist Average monthly rents increased in eight of the 11 regions between September and October, with Wales recording the largest rise at 31.1%, followed by the North East at 29.8% and the South West at 7.5%. Scotland, London and the North West were the only regions…
Read More →
Letting Agent Talk

Portfolio landlords have outgrown traditional property management

By Adam Hills, Client Services Director, LRG Living Markets The residential lettings industry still manages many large portfolios as though they’re simply collections of individual tenancies. While that works on small portfolios, but it doesn’t work when landlords own 50, 100 or 200 properties. At that point, the challenge is no longer property management alone…
Read More →