UK Mortgage Arrears Rate Hits New High
The fact that the DDR rate is still increasing – albeit less acutely – indicates that the growth in arrears has not yet peaked.
- The fact that the DDR rate is still increasing – albeit less acutely – indicates that the growth in arrears has not yet peaked.
- Breaking down the arrears rate by product type, region and age shows that some groups are under particular stress.
- The rate of fixed rate mortgages in arrears grew 15.5% quarter-on-quarter and 53.7% year-on-year, but it is important to note these are off a low base and the absolute percentage of fixed rate arrears remains small.
- The rate of variable mortgages in arrears, however, grew 5.6% quarter-on-quarter and 29.1% year-on-year off a much higher base.