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Mortgage arrears rate is lowest in over a decade

15 Feb 2016

Moreover, figures released last week by the Council of Mortgage Lenders (CML) showed that buy-to-let (BTL) mortgages had an arrears rate of only 0.31% - roughly to 1 in 300 mortgages. The figure for home-owner mortgages was 1.03%, or a shade over 1 in 100 mortgages

This is clearly good news for BTL landlords, and continues the trend that began in 2009 of falling arrears

Repossessions also follow the same trend, with about 1 in 2,500 BTL mortgages leading to repossession, and about 1 in 5,000 home-owner mortgages. The total number of repossessions in 2015 was 10,200, compared to 20,900 in 2014, and approximately 100,000 at the most recent peak in 2009

To read the full CML release click here

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