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Mortgage and landlord possession stats

ended 11. August 2022

Any quick thoughts on the following data just released? 

  • Compared to the same quarter in 2021, mortgage possession claims increased from 2,499 to 3,476 (39%), orders from 400 to 2,382 (496%), warrants from 525 to 2,419 (361%) and repossessions by county court bailiffs increased from 45 to 770 (1,611%). These figures are between 50% to 60% of pre-covid baselines.
  • The pattern is repeated for landlord possession actions. When compared to the same quarter in 2021, landlord possession claims increased from 6,997 to 18,201 (160%), orders from 5,431 to 14,319 (164%), warrants from 3,786 to 7,728 (104%) and repossessions from 1,582 to 4,900 (210%).

2 responses from the Newspage community

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Tahina Akther
Barrister and Co-Founder at Wildcat Law
Repossessions are always a last resort and are often a lengthy legal process. This means the data we are seeing reflects the situation of many months ago. In short this is the COVID effect followed by the cost of living crisis. Many people have simply not recovered financially from COVID and hence there is no option available to lenders or the Courts but to repossess. Unfortunately this is the tip of a very large iceberg. We are seeing a large number of early stage cases. Many of these will no doubt ultimately end in repossessions. To put this in perspective, we are a long way off the peaks of the early 1990's but then we are barely getting started with this latest recession.
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Jonathan Burridge
Founding Adviser at We Are Money
There is very little to take from this other than legal processes were impacted by the pandemic and are starting to catch up.