Mortgage possession actions have continued to rise and are currently above the previous year's levels, according to data from the Ministry of Justice.The latest data shows mortgage claims, orders, warrants and repossessions have continued their gradual upward trend and claims are at their highest since 2019.When compared to the same quarter in 2023, mortgage possession claims increased from 4,035 to 5,182 - this is a rise of 28%.
Landlord possession claims also increased from 23,389 to 24,874 when compared to the same quarter last year.Craig Fish, director at Lodestone mortgages and protection, told Newspage things 'need to change and quickly before it's too late'.'Though this data makes hard reading and is extremely worrying, it's not unexpected due to the significantly higher interest rate environment in which borrowers now find themselves,' he said.