StepChange Debt Charity’s figures show a rise in the average amount of mortgage arrears among its clients struggling with problem debt, with average mortgage arrears rising by 82% annually, to reach £11,845 in the fourth quarter of 2024.
Mortgage arrears on 'downward trend' as UK homeowners begin to recover - but repossessions rise The number of homeowners facing repossession increased in late 2024, but mortgage arrears appears to be on a "confirmed downward trend," reports a banking and finance industry body.
Some 92,170 homeowner mortgages were in arrears of 2.5% or more of the outstanding balance in the fourth quarter of 2024 – 2% fewer than both the previous quarter and the fourth quarter of 2023.
Charles Roe, director of mortgages at UK Finance, commented: "The number of mortgages in arrears has seen a slight decrease compared to the previous quarter.
UK Finance has reassured that mortgage lenders continue to offer tailored support to anyone struggling with their mortgage payments.
