Mortgage arrears in the UK reached their highest level since 2014 in Q1 2024, increasing by 4.2% to £21.3bn.

Mortgage arrears in the UK reached their highest level since 2014 in Q1 2024, according to Bank of England (BoE) data. The value of outstanding mortgage balances with arrears increased by 4.2% from the previous quarter, reaching £21.3 billion, a 44.5% annual increase. The proportion of total loan balances with arrears relative to all outstanding mortgage balances rose to 1.28%, the highest level since Q4 2016.