Mortgage arrears lowest since 2007

Posted: 3/11/2019

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The proportion of total mortgage balances in arrears has fallen to its lowest level in 12 years, to 0.97%. Whilst this is good news, the loan to value % is the highest it has every been in 11 years - almost 40% of mortgages are over 75% of the property value. That can suggest that borrowers are spreading themselves a but thinly, and can cause negative equity issues in the event of a price crash. Did you know that Key One Property only charge 0.5% for selling your property instead of the standard 1%? We make the cost of moving a lot less! Contact us for more details or a free valuation. Subject to T&Cs. Mortgage date from Bank of England.

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