Repossessions fell in 2015

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

Rightmove’s weekly mortgage tracker 30/05/25

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.64% +0.03% -0.78% 5-year fixed 4.61% +0.03% -0.45%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.82% +0.02% -0.93% 5-year fixed 3.88% +0.09% -0.55%   Average…
Read More
Home and Living

Carpet Cleaning Specials in Stanton: Save on Your Next Service

Sure, the carpeting in your Stanton home is inviting and adds warmth and comfort, but it can also store harmful dirt, allergens, and bacteria that can affect your family’s health. This makes regular carpet cleaning not only better for your health, but also your wallet. With Carpet Cleaning Stanton specials, you can save on the professional services…
Read More
Rightmove logo
Breaking News

Seven in ten branches now using Rightmove’s insights and training platform

New figures from Rightmove, the UK’s largest property platform, show that seven in ten estate and letting agency branches are making use of its insights and training platform, the Rightmove Hub. This is up from 56% of branches back in 2023. The Hub, first launched ten years ago and recently revamped, has expanded in response…
Read More
Letting Agent Talk

From Fixer-Upper to Profitable Asset: Strategic Renovations for Landlords

Did you buy a fixer-upper? Or maybe you inherited one. Either way, you’re standing in a place with peeling linoleum, a questionable smell, and wallpaper that could file for social security. The big question: Do you patch things up, go full HGTV, or just torch it for the insurance (don’t do that)? First, take a…
Read More
Breaking News

Household Costs Indices for UK household groups: January to March 2025

Household Costs Indices, 12-month growth rates, expenditure shares and contributions for UK household groups and all-households. These are official statistics in development. Main points Overall UK household costs, as measured by the Household Costs Index (HCI), rose by 2.6% in the year to March 2025; this is a fall from 2.9% in the year to…
Read More
Surge in country and seaside property values
Breaking News

Why Rural House Prices Are Surging Faster Than Cities

New analysis from Open Property Group reveals that rural England is facing an affordability crunch, as house prices in the countryside outpace urban growth, despite lower average wages and higher living costs in remote areas. These shifting dynamics are challenging the long-standing assumption that rural life offers a more affordable and sustainable alternative to the…
Read More