THE number of borrowers in mortgage arrears climbed 7 per cent in the past three months to 81,900.
It raises fears that home repossessions will increase, amid families’ ongoing cost-of-living challenges.
Banking body UK Finance warned: “Higher mortgage rates and the cost of living have continued to weigh on households.”
The 81,900 homeowners were in arrears of 2.5 per cent or more of their outstanding balance.
Of those, 28,690 owed more than 10 per cent of their mortgage balance, putting them particularly at risk of defaulting on their loan.