MortgagesMar 13 2024

Mortgage arrears hit 7-year high

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Mortgage arrears hit 7-year high
1.23 per cent of loans were in arrears in Q4 2023, and increase on the 1.12 per cent recorded in the previous quarter (Photo: Lukas/Pexels)
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UK mortgages in arrears hit a seven-year high in the final quarter of 2023, according to data from the Bank of England.

 

The proportion of the total loan balances with arrears, relative to all outstanding mortgage balances, has increased over the last quarter of 2023 to its highest level in seven years, research from the Bank of England has revealed.

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