Mortgages in Arrears
If your mortgage is in arrears it means your payments are overdue – this is expressed as a percentage of your total outstanding balance.
- There are 76,580 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance (Q1 2019)
- This is 4% lower than in Q1 2018
- Within this total, 23,520 homeowner mortgages were in significant arrears (representing 10 per cent or more of the outstanding balance)
- There are 4,620 buy-to-let mortgages in arrears of 2.5 per cent or more of the outstanding balance (Q1 2019)
- 15 properties were repossessed every day in Q1 2019,
- This amounts to one property every hour and 34 minutes
- This is 3% higher than in Q1 2018
Source: UK Mortgage Statistics
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