Mortgage possession claims have decrease in the third quarter of this year while orders, warrants and repossessions have ticked up, a report has said.
The latest Ministry of Justice figures show that the mortgage possession claims came to 6,193 between July and September, a drop of 5% compared to the same period last year.
However, mortgage orders for possessions are up 20% year-on-year to 4,840, while warrants issued have jumped by 23% to 3,876. Repossessions have risen by 40% annually to 1,228.
The MOJ continued that the average time from claim to repossession has increased to 46.1 weeks, up from 44.0 weeks in the same period in 2024.
It added that the claims to order median timeframe is currently 8 weeks, unchanged from the same period in 2024.
The claims to warrant median timeframe has fallen to 33.1 weeks, down from 35.5 weeks in the same period in 2024.
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Claims to repossession median timeframe has increased to 46.1 weeks, up from 44.0 weeks in the same period in 2024.
The MOJ said that the trend for mortgage possession timeframe is “driven by outright orders” which accounts for more than two thirds of all cases.