UK Finance Arrears & Possession stats – comment

Commenting on today’s UK Finance Arrears & Possessions data, Mark Pilling, managing director Spicerhaart Corporate Sales said, “Arrears remain low, but with weak retail performance and worsening economic data, it’s difficult to imagine this being sustained long into the new year.

“The mortgage possessions figures are concerning – up 19% year on year for homeowners, and 40% for buy to let. UK Finance are right to point out that this stems in part from historic cases but it is nonetheless a significant jump.

“The retail sector is hoping for a buoyant Christmas – let’s hope that Edgar the Excitable Dragon brings us better news next quarter.”