Bloomberg News

Fewer U.K. Mortgage Holders Fell Into Arrears in Fourth Quarter

March 13, 2012

Fewer U.K. mortgage holders failed to make repayments on their home loans in the fourth quarter as low interest rates and the economic recovery improved Britons’ financial positions, the Financial Services Authority said.

The number of new mortgage holders falling into arrears in the three months through December declined 1 percent from the third quarter to 34,600, the U.K.’s London-based financial watchdog said in an e-mailed report today. The reading was down 14 percent from a year earlier.

The total number of loans in arrears dropped 3 percent in the fourth quarter from the previous three months to 313,200 and was down 9 percent from a year earlier.

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

To contact the editor responsible for this story: Jennifer Ryan at jryan13@bloomberg.net


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