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The Independent UK
The Independent UK
Business
Vicky Shaw

Home repossessions increase but mortgage arrears on ‘downward trend’

UK Finance Interest Rates StepChange United Kingdom
Some 1,030 homeowner-mortgaged properties were repossessed in the fourth quarter of 2024, which was 12% higher than in the previous quarter and 54% higher than the same period a year earlier, UK Finance said (Joe Giddens/PA) - (PA Archive)

The number of homeowners having their property repossessed increased towards the end of 2024, but mortgage arrears now appear to be on a “confirmed downward trend,” according to a banking and finance industry body.

UK Finance, which released the figures, encouraged borrowers who are concerned about their ability to keep up with their payments to reach out to their lender for support.

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