UK Mortgage Repossessions Fall 14% in Second Quarter
UKPulse Property Desk
Mortgage repossessions across the UK decreased by 14% year-on-year in the second quarter, with a notable 20% decline in buy-to-let property repossessions.
- UK mortgage repossessions fell by 14% year-on-year in the second quarter.
- Buy-to-let property repossessions saw a 20% decline.
- Industry professionals warn that affordability pressures continue.
Mortgage repossessions in the UK experienced a 14% year-on-year decline during the second quarter. This positive trend included a 20% fall in repossessions of buy-to-let properties.
Despite these figures, industry professionals have cautioned that affordability pressures remain a concern. This is particularly relevant for borrowers who are facing the prospect of refinancing their mortgages onto higher interest rates.