Repossessions up 12%
Properties repossessed by mortgage lenders rose by 12% in the third quarter of the year, to toal 11,300.The number of borrowers in arrears also increased compared with the previous quarter, by 8% to 168,000.
In the same period, the number of repossession orders by the courts increased by 3% tto 29,516.
The figures, from the Council of Mortgage Lenders, confirms the tough environment that many buy-to-let mortgage holders are facing, with arrears in this group being higher than other mortgage holders at 1.58%. Landlords are increasingly seeing falling rents and an over-supply of rental stock.
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