Mortgage arrears low and little appetite for repossessions
22nd February 2023
Mortgage rates have hit the headlines for the last 5 months but rates of arrears remain low by long-term standards. Just 0.88% of all mortgages are in arrears of 1.5% or more, according to the latest data from the Financial Conduct Authority (FCA).
At the height of the Global Financial Crisis there were more than 40,000 new arrears cases each quarter, the average since the implementation of the Mortgage Market Review in April 2014 just over 15,000. At the end of Q3 2022 the figure was just over 10,000.
Likewise, repossession numbers are far lower. Repossessions breached 8,500 in the first quarter of 2009, have averaged just below 1,800 since the MMR with the figure in 2022 was just over 1,000.
Swap rates, which rose considerably in the wake of the Growth Plan, continue to pare back, indicating longer-term stability in the market. Mortgage rates are anticipated to stabilise around 4%.Source: Dataloft, Financial Conduct Authority, Mortgage Market Review (MMR), Average Q2 2014 to Q4 2021, 2022 to end Q3, number per quarter
Hardship Funds and Hot Water Bottles: Ways You Didn’t Know You Could Save (or Make) Money This January
5th January 2026
January Blues and Making Your Money Stretch January can be a difficult month for students. After the cost of Christmas,…
End of year roundup
19th December 2025
As we reach the end of the year it feels like the perfect moment for the obligatory ‘look back on…
How landlords can prepare for 2026
19th December 2025
As we move into 2026, a number of important legal, regulatory and tax changes are set to reshape the private…
