Mortgage arrears and possessions decline again

Mortgage arrears and possessions continued to fall in the second quarter of 2014, according to data published today by the Council of Mortgage Lenders.

The number of mortgages in arrears of 2.5% or more of the balance stood at 131,400 (1.18% of all mortgages) at the end of June, down from 138,200 (1.24%) three months earlier and 154,900 (1.38%) a year ago. There was a fall in numbers across all arrears bands, and the overall total is now at its lowest since the first quarter of 2008.

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