Home repossession claims surge

We’re seeing the highest rates of repossession claims in five years, as households continue to struggle with high borrowing costs.

A repossession claim is when a landlord or mortgage lender takes a homeowner or tenant to court to try take back their home because they can’t afford to continue their payments.   

Figures from the Ministry of Justice show mortgage possession claims jumped by 34% year-on-year to 5,343 in the second quarter of 2024. Meanwhile, landlord possession claims are up by 9%, as tenants struggle to keep up with their rent.

After 14 years in a row of the Bank of England rising interest rates, millions of mortgage borrowers have seen big rises in repayments.  

Despite this rise, repossession claims are still below pre-Covid levels. But many people are at risk of losing their homes.

London has the highest rate of claims, with Newham borough in the top 10 for mortgage and private landlord possessions.

Are you in rent or mortgage arrears?

If you're worried about falling behind on your payments, there are things you can do.

Talk to your bank or landlord as soon as possible. They might be able to help you work out a plan. Lenders must treat you fairly and consider any request you make to change the way you pay your mortgage.

See if you can cut costs anywhere. Using a free budget planner can make it easier to spot where you can cut back.

You can also use our free benefits calculator to see if you can get any financial help. You might find you can claim for certain benefits to help you pay your mortgage interest or rent.

Read more in our guide on what to do if you fall behind with your mortgage payments.

We can help

Don’t struggle alone. We offer debt advice online or you can give us a ring.

All advice is free and impartial. Some debt solutions are also free, some have a fee.