Omkar Hushing, head of buy-to-let and specialist lending underwriting at Market Financial Solutions, explores why the level of rental revenues lost by landlords due to void periods is...

The value of new mortgage commitments was 50.7% higher than a year earlier.

Possession numbers increased over the quarter, but UK Finance stressed that numbers remain "significantly lower" than long-term averages. 

Residential house purchase lending also grew by 11% this year compared to 2023.

Arrears numbers fell by 3% in Q3, more than reversing the modest increases seen in the first half of the year. 

41% have found it difficult to keep up with bills and credit commitments in the last few months.

The North East has the highest share of borrowers who have missed at least their last two mortgage payments, followed by the North West and Wales.

The lender has also increased the threshold for communications and utilities account defaults in the last three years from £300 to £500.

The data shows that new arrears cases are 5.3pp lower than a year earlier.

Homeowner and buy-to-let properties in early arrears fell by 3% and 6% respectively.