THE UK GOV. HAS PUBLISHED IT’S APRIL TO JUNE 2024 QUARTERLY REPORT FOR MORTGAGE AND LANDLORD POSSESSIONS.
As with the last half-year, both mortgage and landlord claims together with repossessions continued their advance with Mortgage Possessions reaching their highest since 2019 and are now close to their pre-covid volumes. Mortgage claims (14%), repossession orders (19%), warrants (38%) and repossession (32%) below Q2 2019. Landlord possession actions have all continued to rise compared to the same period in 2023 albeit at a lesser rate from mortgage possession. Landlord Claims, orders and warrants and repossessions increased by 9%, 15%, 12% and 16% 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 5'343 (34%), orders from 2,529 to 3,395 (34%), warrants from 2,679 to 2,918 (9%) and repossessions by county court bailiffs increased from 660 to 854 (29%). |
Landlord possession actions have all increased: | When compared to the same quarter in 2023, landlord possession claims increased from 22,526 to 24'495 (9%), Court Orders from 16,029 to 18'436 (15%), Court Warrants from 9'957 to 11'172 (12%) and Court Repossessions from 5'950 to 6'927 (16%). |
Mortgage and Landlord possession claims rates have risen across all regions: | Increases in possession claims have been recorded in all regions except Wales. Private and social landlord claims remained concentrated in London. |
Mortgage median average time (from claim to repossession) have decreased. | The median average time from claim to mortgage repossession has decreased to 45.9 weeks, down from 48.7 weeks in the same period in 2023. |
Median timeliness for landlord repossessions have increased. | The median average time from claim to landlord repossession has increased to 25.4 weeks, down from 22.1 weeks in the same period in 2023. |
MORTGAGES
Mortgage possession actions: claims, orders and warrants are all currently above the previous year’s levels continuing last quarter's reversal.
Compared to the same quarter in 2023, mortgage possession claims (5,343) are up 34%. Mortgage orders for possession (3,395) are up 34%, warrants issued (2,918) are up 9% and repossessions (854) are up 29%.
All Mortgage possession claims have been steadily increasing since Q2 2021 (apart from small dips in some quarters) and continue to rise in the latest quarter. Claims, warrants and repossession volumes are now 14%, 38% and 32% below the Q2 2019 volume. In the most recent quarter, Q2 2024, there were 5343 claims for possession, up 34% from the same quarter in 2023. Orders and warrants for possession have followed a similar trend to mortgage claims. Compared to the same quarter in 2023, orders are up 34% to 3'395 and warrants are up 9% to 2'918 in 2024.
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 for the 3rd consecutive quarter where median timelines for claim to Order have increased slightly over this period.
Mortgage Claims to Order. | Median timelines has increased to 8.4 weeks, up from 8.1 weeks in the same period 2023. |
Claims to Warrant: | Median timelines have increased to 34.1 weeks, down 42.9 weeks in the same period 2023. |
Claims to Repossession: | Median timelines have decreased to 45.9 weeks, down from 48.7 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 (24,495), orders for possession (18,436), warrants (11,172) and repossessions (6,927) have increased by 9%, 15%, 12% and 16% respectively.
Landlord possession actions have been increasing since Q2 2021. Claims, orders and warrants volumes increased by 9%, 15%, 12% respectively while possessions increased by 16%.
Strangely, no data was provided for the Accelerated Procedure with this data release.
The 12% increase in landlord warrants compared to Q2 2023, was accompanied by increases across all regions except Wales. The largest regional number (4,315) was again found in London, making up 39% of all landlord warrants. There was an increase of 33% for landlord warrants in London (from 3,248 in Q2 2023 to 4,315 in Q2 2024).
COMMENT
A copy of the report can be accessed by clicking here.
The Statisticians silver lining comments are once again lacking with this being the 3rd consecutive data release
Both mortgage and landlord possessions actions have continued to rise in the current quarter. Mortgage claims have reached their highest volume since Q2 2019 and are now close to pre-covid volumes. This increase has been seen across all mortgage possession actions.
All landlord possession actions have also continued to rise compared to the same period in 2023, albeit at a lesser rate than mortgage possession actions and not yet at pre covid levels. These increases in landlord possession actions are reflected across all actions for social landlord, private landlord and accelerated procedure claims.
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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