700 BTL mortgaged properties were taken into possession in Q4 2024, unchanged from the previous quarter, according to UK Finance.
Despite the unchanged level of possessions, the number of BTL mortgages in arrears of 2.5% or more of the outstanding balance in Q4 2024, was 12,610, 3% lower than the previous quarter.
The number of BTL mortgages in lighter arrears (2.5% and 5% of the outstanding balance), was also 5% fewer than the previous quarter.
According to UK Finance, the number of BTL mortgage possessions in Q3 2024 was 73% higher than the year before.
