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

Overseas Property

The most in-demand holiday home destinations

Alicante is the ideal place in the sun when it comes to Brit foreign property dreams Province on Spain’s Eastern coast is the most popular destination for Brits in TV foreign property series Almeria and the Costa Del Sol are in the top three based on analysis of 1,000 episodes of A Place In The…
Read More →
Breaking News

Two Weeks to Go for First Phase of Renters’ Rights Act

With just two weeks until the first phase of the Renters’ Rights Act comes into effect, letting agents across England are being urged to ensure they are fully prepared for the significant operational and compliance changes ahead. From 1 May 2026, the new legislation will introduce wide-ranging reforms to tenancy structures, possession processes and rent…
Read More →
Breaking News

Housing Insight Report: February 2026

The housing market shows steady activity, ongoing challenges with sales agreed rising slightly and stock levels stable, while affordability pressures and longer transaction times continue to strain buyers and sellers. Demand is strong in the rental sector, with significant competition among tenants despite only a modest increase in available properties. Rents have remained relatively stable…
Read More →
Breaking News

London boasts biggest property market gap

UK’s property price gaps exposed: London tops with £838k difference between top and bottom of the market The latest research from eXp UK has revealed the scale of the price divide between the most and least expensive property markets across each region of the UK, with three areas seeing average house price gaps of more…
Read More →
Letting Agent Talk

Questions raised over tenant-agent trust gap

New research from Propoly has found that while over half of tenants describe their letting agent as professional, quick to respond to queries, and efficient in handling maintenance issues, issues still exist, particularly a widespread suspicion that agents are not working in the tenants’ favour. Propoly commissioned a survey of 1,000 UK tenants* to understand…
Read More →
Letting Agent Talk

29 is the age house sharing becomes ‘embarrassing’

but 11% still do it, according to new Nationwide research That equates to 27 million admitting they have felt embarrassed about their living situation With 69% saying living alone is unaffordable, it’s no surprise the average age of those in house shares is 35 From moving home (12%) to living with an ex (10%), as…
Read More →