Real Estate
UK Mortgage Possessions Jump as Higher Rates Squeeze Homeowners
- Mortgage possessions rose 8% in the three months through June
- Buy-to-let loans taken into possession rose even more sharply
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The number of UK mortgaged homes taken into possession rose 8% in the second quarter of 2024 as high interest rates squeezed homeowners.
Some 980 homeowner mortgaged properties were taken into possession between March and June, according to data compiled by industry group UK Finance. That’s up from 910 in the previous quarter and is more than 30% higher than the number recorded a year earlier.