30 July 2024
Report: UK Arrears Growth Slows to 1.1%
Residential mortgage arrears drop for first time and new originations hit highest level since September 2022 Mini-Budget Data from Pepper Advantage’s UK mortgage portfolio shows an improvement in the arrears environment in Q2 2024, with the arrears rate across the country increasing only 1.1% compared with Q1.1 The stronger outlook was driven by residential mortgages, which recorded their first drop in arrears since Q3 2022. Q2 direct debit rejection (DDR) data also provides reasons for optimism, with overall DDRs increasing a mere 0.4% quarter-on-quarter.
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