THE UK GOV HAS PUBLISHED IT’S APRIL-JUNE 2023 QUARTERLY REPORT FOR MORTGAGE AND LANDLORD POSSESSIONS.
Both mortgage and landlord claims together with repossessions have increased by over 12% on the previous year. Landlord possession claims have continued to increase at a steeper rate than the last 2 quarters which follows a general increasing trend since covid recovery 3Q 2021. Against the last quarter, the rise across all action types claims (34%), Orders (22%), Warrants (48%) and repossessions (47%).
SUMMARY
The findings are as follows:
Mortgage Claims, Orders and Warrants increased and repossessions decreased: | Compared to the same quarter in 2022, mortgage possession claims increased from 3,478 to 3,986 (15%), orders from 2,368 to 2,536 (7%), warrants from 2,446 to 2,654 (9%) and repossessions by county court bailiffs decreased from 780 to 642 (18%). |
Landlord possession actions have all increased: | When compared to the same quarter in 2022, landlord possession claims increased from 18,193 to 22,537 (24%), orders from 14,309 to 16,010 (12%), warrants from 7,793 to 9,886 (27%) and repossessions from 4,951 to 5,868 (19%). |
Mortgage and Landlord possession claims rates have risen across all regions: | Increases in possession claims have been recorded in all regions. Private and social landlord claims remained concentrated in London (with 7 and 5 of the highest 10 claim rates respectively). |
Mortgage median average time (from claim to repossession) has decreased. | The median average time from claim to mortgage repossession has decreased to 48.7 weeks, down from 108.4 weeks in the same period in 2022. |
Median timeliness for landlord repossessions has decreased. | The median average time from claim to landlord repossession has decreased to 22.1 weeks, down from 23.4 weeks in the same period in 2022. |
MORTGAGES
Mortgage possession actions: claims, orders and warrants are all currently above the previous year’s levels, except repossessions which have decreased.
Compared to the same quarter in 2022, mortgage possession claims (3,986) are up 15%. Mortgage orders for possession (2,536) are up 7%, warrants issued (2,654) are up 9% and repossessions (642) are down 18%.
All Mortgage possession case types have been steadily increasing since Q2 2021 (apart from a small dip in Q4 2021 and Q4 2022). However, these are showing early signs of stabilising in the current quarter, although it is not yet known if this trend will continue.
Following a push to reduce court backlogs and ensure swift access to justice, this quarter time taken to complete mortgage actions have all decreased:
Mortgage Claims to Order. | Median timelines has decreased to 8.1 weeks, down from 10.1 weeks in the same period. |
Claims to Warrant: | Median Timelines have decreased to 42.7 weeks, down 48.4 weeks in the same period. |
Claims to Repossession: | Median timelines have decreased to 48.7 weeks, down from 108.4 weeks in the same period. |
LANDLORD
The number of landlord possession actions for all court stages have increased compared to the same quarter of last year.
Compared to the same quarter in 2022, landlord possession actions; claims (22,537), orders for possession (16,010), warrants (9,886) and repossessions (5,868) have increased by 24%, 12%, 27% and 19% respectively.
Landlord possession actions have been increasing since Q2 2021. Claims, orders and warrants volumes increased by 24%, 12% and 27% respectively while landlord repossessions in the county courts rose by 19% when compared to the same quarter in 2022.
Within the landlord possession actions, the Accelerated procedures have particularly risen across all claims (34%), orders (22%), warrants (48%) and repossessions (47%).
COMMENT
To finish on a positive note, neither mortgage possession claims or repossessions by county court bailiffs have reached the peak highs of 2009 being 26’419 and 9,284 per quarter respectively.
A copy of the report can be accessed by clicking here.
The Statisticians comments indicate that rises are expected to stabilise in the near future. However, there is no indication as to when that will be.
These figures do not include court ordered possessions for insolvency matters such as bankruptcy or charging orders. However, from conversations we have had with various bailiffs we understand that these remain high.
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