Which? uses cookies to improve our sites and by continuing you agree to our cookies policy

Increase in number of mortgage arrears

Forecast suggests mortgage debt will keep rising

Managing finances

Number of repossessions increases by 12 per cent as mortgage borrowers struggle with debts and arrears.

More than 11,000 homes were repossessed during the third quarter of the year, 12% higher than in the second quarter, figures out today showed.

The Council of Mortgage Lenders‘ data released today showed 11,300 homes were repossessed in the third quarter of the year. Despite the increase, the CML said it still expected about 45,000 repossessions this year.

Mortgage arrears exceed forecasts

However, the CML said the number of households in mortgage arrears by the end of the year was likely to exceed forecasts as its figures showed 168,000 households were in arrears at the end of September 2009, 8% higher than the 155,600 at the end of June.

Which? offers guidance and advice on dealing with debts and arrears.

For daily consumer news, subscribe to the here. If you have an older web browser you may need to copy and paste this link into your newsreader: https://www.which.co.uk/feeds/reviews/news.xml . Find out more about RSS in the Which? guide to news feeds.

Back to top