Number of landlords attempting to evict tenants has also surged
Home repossessions have almost doubled as crippling costs forces borrowers to fall behind on mortgage payments, new data has shown.
There were 744 mortgage repossessions by bailiffs in England and Wales between July and September this year, more than 90pc higher than the same period last year, according to official figures published by the Ministry of Justice.
Possession claims by lenders, the first step in the repossession process, surged by almost a third from 2,832 to 3,680, while warrants have jumped by 157pc.
The number of landlords attempting to evict tenants has also surged, reaching a record high after the pandemic-related eviction ban ended. Mortgage repossessions are still at roughly half the level seen before the pandemic, however the Ministry of Justice said they had increased “significantly” in the past year.