31 October 2023
UK mortgage arrears rate hits new high
Global credit intelligence provider, Pepper Advantage, has published data on its 100,000+ UK residential mortgage portfolio, which shows a 23.3% annual jump in the arrears rate in Q3 2023 to reach a post-financial crisis high This forecast is corroborated by the rate of Direct Debit Rejections, a form of missed mortgage payment and a leading indicator of borrower stress, which grew 19.3% over the same period Pepper Advantage’s portfolio has a higher composition of borrowers who qualify for needs-based support and are therefore more likely to be impacted by rising costs than the broader UK mortgage market
Discover the full report here
