Repossessions, Borrowing & debt, Money, Property, Mortgage arrears, Mortgages, Mortgage rates, Banks and building societies, Bank of England, UK cost of living crisis, Inflation, Economics, Housing market, Real estate, Business, UK news, Interest rates Business | The Guardian
Both bank and landlord cases rise but remain below pre-Covid levels, despite tough cycle of interest rate risesBusiness live – latest updatesThe number of claims made by banks and landlords to repossess homes in England and Wales has reached the highest level in five years as households struggle with higher borrowing costs.Figures from the Ministry of Justice show mortgage possession claims made by lenders in the county courts reached 5,343 in the three months to the end of June, up 34% on a year earlier, to hit the highest level since the first quarter of 2019. Continue reading…
Both bank and landlord cases rise but remain below pre-Covid levels, despite tough cycle of interest rate rises
Business live – latest updates
The number of claims made by banks and landlords to repossess homes in England and Wales has reached the highest level in five years as households struggle with higher borrowing costs.
Figures from the Ministry of Justice show mortgage possession claims made by lenders in the county courts reached 5,343 in the three months to the end of June, up 34% on a year earlier, to hit the highest level since the first quarter of 2019.
