50.3% yearly increase in mortgage arrears balances to £20.3bn in Q4 2023, highest since Q4 2016.
Bank of England figures reveal a 50.3% yearly increase in the value of outstanding mortgage balances with arrears in Q4 2023, reaching £20.3bn. The proportion of total loan balances with arrears, relative to all outstanding mortgage balances, increased to 1.23% – the highest since Q4 2016. New cases of people falling behind with house repayments decreased compared to the previous quarter, however, the value of new mortgage commitments decreased by 6.6% to £46.0bn.
March 12, 2024
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