THE UK GOV. HAS PUBLISHED IT’S JANUARY TO MARCH 2024 QUARTERLY REPORT FOR MORTGAGE AND LANDLORD POSSESSIONS.
Last quarter, both mortgage and landlord claims together with repossessions increased again with Mortgage Possessions reaching their highest since 2019. Regretfully, this trend has continued unabated this quarter with mortgage claims (28%), repossession orders (19%), warrants (9%) and repossession (4%) above the previous year's levels. Landlord possession actions have been increasing since Q2 2021 and remain at their highest levels since the pandemic. Claims, orders and warrants and repossessions increased by 6%, 3%, 9% and 6% respectively.
SUMMARY
The findings are as follows:
Mortgage Claims, Orders and Warrants increased and repossessions increased: | Compared to the same quarter in 2023, mortgage possession claims increased from 4'035 to 5'192 (82%), orders from 2,532 to 3,019 (19%), warrants from 2,636 to 2,881 (9%) and repossessions by county court bailiffs increased from 729 to 759 (4%). |
Landlord possession actions have all increased: | When compared to the same quarter in 2023, landlord possession claims increased from 23,389 to 24'874 (6%), Court Orders from 17,644 to 18'154 (3%), Court Warrants from 10'503 to 11'407 (9%) and Court Repossessions from 6'501 to 6'864 (6%). |
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 6 and 5 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 45.7 weeks, down from 60.9 weeks in the same period in 2023. |
Median timeliness for landlord repossessions have decreased. | The median average time from claim to landlord repossession has increased to 24.1 weeks, down from 22.4 weeks in the same period in 2023. |
MORTGAGES
Mortgage possession actions: claims, orders and warrants are all currently above the previous year’s levels. Compared to last quarter where repossessions decreased on the quarter before, this trend has now reversed and is on the march again.
Compared to the same quarter in 2023, mortgage possession claims (5,182) are up 28%. Mortgage orders for possession (3,019) are up 19%, warrants issued (2,881) are up 9% and repossessions (759) are down 4%.
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. Specifically, the claim, warrants and repossession volumes of 16%, 39% and 42% are now below their pre-covid baseline although, still a significant increase when compared to the same quarters 2020 to 2022.
Following a push to reduce court backlogs and ensure swift access to justice, the time taken to complete mortgage actions have again decreased for both claims to warrant and claims to repossession. However, this quarter there has been a slight increase in the amount of time to get a Court Order.
Mortgage Claims to Order. | Median timelines has increased to 8.4 weeks, up from 7.7 weeks in the same period 2023. |
Claims to Warrant: | Median timelines have increased to 36.6 weeks, down 43.5 weeks in the same period 2023. |
Claims to Repossession: | Median timelines have decreased to 45.7 weeks, down from 60.9 weeks in the same period 2023. |
LANDLORD
The number of landlord possession actions for all court stages have increased and remain at their highest levels since the pandemic.
Compared to the same quarter in 2023, landlord possession actions; claims (24,874), orders for possession (18,154), warrants (11,407) and repossessions (6,864) have increased by 6%, 3%, 9% and 6% respectively.
Landlord possession actions have been increasing since Q2 2021. Claims, orders and warrants volumes increased by 6%, 3% and 9% respectively while landlord repossessions in the county courts rose by 6% when compared to the same quarter in 2023.
Within the landlord possession actions, the Accelerated procedures have particularly risen across all claims (15%), orders (13%), warrants (22%) and repossessions (19%).
The 9% increase in landlord warrants compared to January to March 2022, was accompanied by increases across all regions. The largest regional number (4,267) was again found in London, making up 37% of all landlord warrants. There was an increase of 28% for landlord warrants in London (from 3'337 in January to March 2023 to 4'267 in January to March 2024).
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 as with last quarter, deafeningly silent with the production of these statistics:
mortgage possession actions have continued their gradual upward trend with mortgage claims at their highest since 2019. This quarter, mortgage claims, orders, warrants and repossessions are 28%, 19%, 9% and 4% respectively above the previous year’s levels.
Landlord claims have also continued to increase this quarter and are now almost at their pre-covid 2019 baseline. All landlord possession actions have increased compared to the same period in 2023 but at a lesser rate than mortgage possession actions. Landlord claims, orders, warrants and repossessions are 6%, 3%, 9% and 6% above the levels recorded in the same period in 2023.
Accelerated procedures have continued to rise across all action types of claims (7%), orders (5%), warrants (15%) and repossessions (13%) 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.
Finally, a new Housing Loss Prevention Advice Service (HLPAS) was launched on 1 August to provide advice to tenants and homeowners as soon as they are served with a written notice asking them to leave their home. Individuals who require the service do not need to meet legal aid financial eligibility rules as the service is not means tested but they are required to show evidence that they are at risk of losing of their home. More information can be found here.
We have successfully acted for both mortgagors, mortgagees, landlords and tenants in possession claims across the county. Should you need legal advice in this area then contact us today for up to 30 minutes free legal advice.
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