The number of landlords who are lagging behind with their mortgage payments has jumped by 20%, according to UK Finance.
According to latest figures, there were 1,200 buy-to-let mortgages in "significant arrears" in the last quarter of 2017, a fifth higher than in the same quarter in 2016.
There were 5,100 buy-to-let mortgages in less serious arrears of 2.5%. This was a 2% rise on 2016, UK Finance said.
UK Finance figures also show that 600 buy-to-let properties were re-possessed by banks in the last quarter of 2017,the same number as in 2016.
By contrast the number of homeowners with significant arrears fell by 1% over the period, as mortgage rates remained at low levels.
The number of homeowners with arrears of more than 2.5% fell by 7%.
Latest News
-
TSB acquired by Santander in £2.65bn deal
-
Shackleton announces acquisition of Chetwood
-
IFAs to increase client exposure to private markets – Wealth Club
-
305,000 complaints sent to Financial Ombudsman Service last year
-
Darlington BS warns of impact of changes to cash ISAs
-
Chancellor expected to cut cash ISA allowance
Is 2025 the year of the remortgage?
An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories