Figures for Q2 showed that 1.77% of all CHL’s buy-to-let mortgage accounts were more than 90 days in arrears, an improvement of 0.18% compared to Q1.
In April this year, CHL Mortgages reported that its buy-to-let arrears in Q1 had returned to the levels seen before the financial crisis, with 1.95% of all its mortgage accounts more than 90 days in arrears – down 45% on the same period 12 months previously.
Bob Young, managing director at CHL Mortgages, said: “A huge part of this success is down to the quality, experience and skills of our collections team, both at head office and out on the road. We work with those borrowers who may be having some form of payment difficulty to ensure we come up with an individually-tailored plan and process which works for all.
“It’s this flexible approach which is responsible for our results; we focus on human interaction with our borrowers which means dedicated teams for certain areas and certainly no predicative dialling phone systems.”
He added: “We anticipate continued improvement in our arrears levels throughout the rest of 2011 and beyond.”
