THE UK GOV HAS PUBLISHED IT’S OCTOBER-DECEMBER 2023 QUARTERLY REPORT FOR MORTGAGE AND LANDLORD POSSESSIONS.
Both mortgage and landlord claims together with repossessions have increased with Mortgage Possessions at their highest since 2019. Landlord possession actions have been increasing since Q2 2021 and they are now at their highest levels since the pandemic. Claims, orders and warrants volumes increased by 14%, 12% and 12% respectively while landlord repossessions in the county courts rose by 23% when compared to the same quarter in 2022.
(Exc: English Courts do not use Gavels)
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 3,163 to 4'384 (39%), orders from 2,482 to 2,702 (9%), warrants from 2,131 to 2,201 (3%) and repossessions by county court bailiffs decreased from 735 to 593 (19%). |
Landlord possession actions have all increased: | When compared to the same quarter in 2022, landlord possession claims increased from 20,457 to 23'282 (14%), Court Orders from 16,145 to 18'003 (12%), Court Warrants from 8'778 to 9,833 (12%) and Court Repossessions from 5,427 to 6'649 (23%). |
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 1 of the highest 10 claim rates respectively). |
Mortgage median average time (from claim to repossession) have decreased. | The median average time from claim to mortgage repossession has decreased to 50.5 weeks, down from 63.7 weeks in the same period in 2022. |
Median timeliness for landlord repossessions have decreased. | The median average time from claim to landlord repossession has increased to 23.7 weeks, down from 21.7 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 (4,384) are up 39%. Mortgage orders for possession (2,702) are up 9%, warrants issued (2,201) are up 3% and repossessions (593) are down 19%.
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 7.6 weeks, down from 9.0 weeks in the same period 2022. |
Claims to Warrant: | Median Timelines have decreased to 36.0 weeks, down 46.9 weeks in the same period 2022. |
Claims to Repossession: | Median timelines have decreased to 50.5 weeks, down from 63.7 weeks in the same period 2022. |
LANDLORD
The number of landlord possession actions for all court stages have increased and are now at their highest levels since the pandemic.
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 14%, 12% and 12% respectively while landlord repossessions in the county courts rose by 23% when compared to the same quarter in 2022.
Within the landlord possession actions, the Accelerated procedures have particularly risen across all claims (23%), orders (29%), warrants (31%) and repossessions (39%).
The 12% increase in landlord warrants compared to October to December 2022, was accompanied by increases across all regions. The largest regional number (3,262) was again found in London, making up 33% of all landlord warrants. There was an increase of 18% for landlord warrants in London (from 2,774 in October to December 2022 to 3,262 in October to December 2023).
COMMENT
A copy of the report can be accessed by clicking here.
The Statisticians comments are usually framed with a sliver lining predicting the steady increase in repossessions seen throughout 2023 to stabiles and reverse in the near future. Such assurances are deafeningly silent with the production of these statistics:
Mortgage and Landlord possession actions have continued their steady growth in 2023. Mortgage possession claims now sit around 65% of what it was in 2019. The statistics this quarter shows mortgage possession actions have continued their gradual upward trend with mortgage claims at their highest since 2019. This quarter, claims, orders and warrants are 39%, 9% and 3% respectively above the previous year’s level, while repossessions were 19% below the previous year’s levels.
Landlord claims have increased at a faster pace and now make up around 85% of the 2019 baseline. Landlord possession actions have followed a similar upward trend mainly driven by Accelerated and Private landlord possession claims which have continued to rise and are currently back to their pre-covid baseline. In the Accelerated procedure, the rise is across all the action types of claims (16%), orders (20%), warrants (25%) and repossessions (34%) when compared to the same quarter last year.
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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