The number of homeowners in arrears of 2.5% or more of the balance outstanding came to 75,170 in the final quarter of last year, says UK Finance.
This is a slight rise on the 74,430 counted in Q3 of that year and down on the year previous – when UK Finance noted 79,640 in Q4 2021.
Meanwhile, there were 6,060 buy-to-let (BTL) properties in arrears of at least 2.5% in Q4 2022, up on both the quarter previous – 5,760 – and on the year before, when there were 6,010 BTL properties in this state.
UK Finance also found that there were 28,390 homeowners with a balance of over 10% outstanding, nearly level with the previous quarter’s number, 28,910, and down on an annual basis – 30,020.
The data shows that 500 homeowner properties were taken into possession in Q4 2022 and 700 the quarter previous – significantly up on Q4 2021, when 390 properties were possessed.
The BTL numbers were more stable. Here, 320 properties were possessed in Q4 2022, 400 in Q3 of that year and 320 at the end of 2021.
