The risks faced by the UK’s mortgage lenders have been highlighted by the first Prudential Risk Outlook (PRO) to be published by the Financial Services Authority (FSA). According to the FSA, the lower arrears and repossessions seen during the current downturn, compared with the previous recession, are down to falling mortgage interest rates and lower [...]
unemployment
Tenant arrears rise as rent increases loom
The UK’s private rental sector saw tenant arrears rise to almost 12% of all private rent in December, up 2% compared with a month earlier, according to the latest survey from property group, LSL.
Total arrears, estimated at £276 million, were at their highest since December 2009, with rising unemployment likely to drive the figure into [...]
