Repossession Statistics for England and Wales: April to June 2024

Mortgage Possession Overview

During the quarter, mortgage possession actions exhibited a notable increase. This includes claims, orders, warrants, and repossessions. The upward trajectory of these actions signals a return to pre-pandemic levels, as economic pressures begin to mount on homeowners. Compared to the same quarter in 2023:

• Mortgage possession claims went from 3,991 to 5,343 (34% increase)
• Orders from 2,529 to 3,395 (34% increase)
• Warrants from 2,679 to 2,918 (9% increase)
• Repossessions by county court bailiffs from 660 to 854 (29% increase)

Although repossessions have not yet reached pre-pandemic levels, they are getting ever closer.

Mortgage Possession Actions Accelerated in Courts

One of the more significant trends in the second quarter of 2024 is the reduction in the median time from claim to repossession. This figure decreased to 45.9 weeks, down from 48.7 weeks in 2023. This acceleration is likely driven by efforts within the judicial system to clear backlogs and streamline processes.

The faster progression from claim to repossession, while beneficial in reducing uncertainty for lenders, also indicates that homeowners are finding it increasingly difficult to negotiate or rectify their arrears once the process has begun.

If you are in the process of having your home repossessed you need to stop repossession now. Call HMS on 0800 298 0571 for help.

Landlord Possession Actions

Landlord possession actions have also risen across the board during Q2 2024.

• Claims 24,495 (9% increase)
• Orders 18,436 (15% increase)
• Warrants 11,172 (12% increase)
• Repossessions 6,927 (16% increase)

This rise in landlord possession actions reflects a broader issue within the rental market, where tenants are struggling to keep up with rent payments due to economic pressures.

The situation is particularly acute in London, where the highest volumes of claims and orders were recorded, reflecting the capital's unique housing challenges.

Regional Disparities in Possession Claims

The geographical distribution of possession claims is stark. London stands out as the region with the highest concentration of both mortgage and landlord claims. In particular, areas such as Newham and Barking and Dagenham are hotspots for landlord possession actions, reflecting high levels of rental market activity and associated financial difficulties among tenants.

Conversely, some regions, like Wales, have seen lower levels of possession actions, underscoring the uneven impact of economic conditions across the country.

What to Do if You Receive a Possession Claim

Receiving a possession claim can be overwhelming, but it’s important to remain calm. There are several options available, and seeking advice from a repossession specialist is crucial. A repossession expert can assess your situation, explain your choices, and guide you through the process.

At Homeowner Management Services, we specialize in assisting those at risk of repossession. Our team will provide tailored recommendations, often starting with contacting your lender. By engaging with your lender and demonstrating your willingness to find a solution, you increase the chances of staying in your home.

Even if your repossession is imminent, we’re here to help. Our team is available around the clock, 24/7, to offer the support you need.