Banks have stepped up their efforts to seize homes from borrowers struggling to keep up with payments after a sharp rise in mortgage interest rates.
The number of mortgage possession claims leapt by more than a third to 5,343 in the three months to the end of June, compared with 3,991 in the same period last year, according to the Ministry of Justice. It was the highest level since 2019.
Landlord possession claims also increased by 9 per cent year-on-year to 24,495 as private and social tenants struggled to keep up with paying the rent.
Lenders’ efforts to gain possession of homes are also becoming more successful, with the volume of repossessions by bailiffs up by 29 per cent to 854 from 660. Warrants increased