More homeowners are facing the threat of repossession as they fail to make their mortgage payments. In total 30,010 mortgages fell into "significant" arrears of 10% or more of the outstanding balance in the fourth quarter of last year, 350 more cases than the previous quarter. The total has been increasing since early 2020. Additionally, 6,010 buy-to-let mortgages were in arrears of 2.5% or more in the fourth quarter of 2021. Meanwhile 14,123 landlords started court proceedings to evict tenants between October and December. This is up by 43% on the previous quarter. According to the homeless charity Shelter, almost a quarter of tenants are behind on their rent or struggling to pay it. As courts tackle the backlog of notices lodged by lenders and landlords, the number of people losing their homes will rise, warns the UK Finance banking body.
Daily Express
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