DEMSA update: FCA Consumer Understanding / Financial Crime / Council Tax collection / Credit Unions / Collaborations / Events…

In today’s bulletin

General updateCouncil Tax collectionCredit Union arrearsFinancial CrimeCollaborations & featuresEvents

General Update

Mortgage arrears and possessions figures Q4 2023

Homeowner mortgages in arrears increased 7% to 93,680 compared to Q3. Buy-to-let mortgages (BTL) in arrears increased 18% to 13,570 compared to the previous quarter. 540 homeowner mortgaged properties were taken into possession in Q4, down 14%. 500 BTL mortgaged properties were taken into possession in Q4, 11% higher.

UK Finance has reminded consumers of the support available for anyone struggling with their mortgage payments. They have stressed that talking to the lender about the options will not impact their credit score. Many consumers will be cynical about this.

In recent months mortgage rates have been falling. This should help ease the payment shock for the 1.5m homeowners and 230,000 BTL mortgage holders whose fixed rate deals are due to end in 2024. YouGov polling fo...

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