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Comment on CML arrears and possessions figures PDF Print E-mail
Thursday, 10 August 2017
Mark Pilling Managing Director at Spicerhaart Corporate Sales, says “The good news with this morning’s figures is that arrears and possessions are at their lowest level.  What the headlines don’t show is the regional differences.  Although there were no repossessions recorded in 93 local authorities, the further north we go the more repossessions we see.  

“The percentage as a whole is falling, but it is in the areas where house prices, and therefore mortgage lending, is lowest that there are more repossessions, highlighting again the north/south divide when it comes to wages and affordability. This is a trend that we have seen for a while, and one that has no easy fix while uncertainty remains and real wages continue to fall as inflation rises. It will be interesting to see what happens in the coming months as the Bank of England struggles to keep a lid on inflation during Brexit negotiations.”
 

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