Back to news

Landlords are the Most Reliable Mortgage Payers

May 17, 2014 | Landlord News  

Share this article  

Research from the Council of Mortgage Lenders shows that landlords are more reliable with their mortgage payments than home-owners. Just 0.9% of landlords were found to be in arrears of more than three months, compared to 1.7% of home-owners.

Both the number (138,200) and proportion (1.24%) of mortgages with arrears of 2.5% of the outstanding balance in Q1 2014 were at the lowest level recorded in six years, falling from 144,600 and 1.29% from the fourth quarter of 2013. The number of mortgages in arrears fell in all arrears bands, including the most serious. The proportion of mortgages with arrears equivalent to 10% or more of the mortgage balance fell to a miniscule 0.0025%.

Although repossessions increased from 6,100 to 6,400 from the final quarter of 2013 to the first quarter of 2014, the number of repossessions in Q1 2014 was still down 20% (8,000) from Q1 2013.

For Q1 2014, gross buy-to-let loans advanced increased by just 1% compared to Q4 2013. However, it was still an increase of 46% on Q1 2013. Although the growth in the buy-to-let lending market is slowing down, it appears to still be in very good health.

Back to news

You may also be interested in…

What the latest Budget means for landlords & first-time buyers in Leeds

Landlord News

Sales

04/03/2021

What the latest Budget means for landlords & first-time buyers in Leeds

Read more  
Demand soars for student property in Leeds

Landlord News

12/02/2021

Demand soars for student property in Leeds

Read more