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Revealed: Great Britain’s arrears hotspot

  • 02/12/2016
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Revealed: Great Britain’s arrears hotspot
Homeowners in greater London are the most likely in Great Britain to be in arrears, data from Computershare reveals.

The UK’s largest third-party servicer of mortgages revealed that one in every 51 residential loans in the capital is in arrears by at least a month, compared to one in every 73 nationally.

Those in Wales were the second most likely to be in arrears, followed by homeowners in the North West.

Homeowners in greater London are also twice as likely as landlords in the capital to be behind on payments, with one in every 106 buy-to-let mortgages in the capital being in arrears.

However, the arrears figure for landlords is highest in Wales and Scotland where 1.41% and 0.95% of buy-to-let mortgages, respectively, are in arrears.

Andrew Jones, chief executive officer at Computershare Loan Services, said: “When mortgages fall into arrears, problems can arise for borrowers, lenders and tenants, so loans must be administered in a way that takes into consideration the individual circumstances of every customer.”

Computershare Loan Services services over £71bn of mortgages and loans, which represents over half of the outsourced mortgages in the UK.

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