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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 286,412 | UK Deaths: 44,283 SEE MAP Italy Confirmed cases: 241,419 | Italy Deaths: 34,854 | Italy Recovered: 191,944 SEE MAP Spain Confirmed cases: 250,545 | Spain Deaths: 28,385 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 286,412 | UK Deaths: 44,283 SEE MAP Italy Confirmed cases: 241,419 | Italy Deaths: 34,854 | Italy Recovered: 191,944 SEE MAP Spain Confirmed cases: 250,545 | Spain Deaths: 28,385 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

Sharp rise in number of BTL mortgaged properties taken into possession

There was a significant increase in the number of buy-to-let mortgaged properties taken into possession in the third quarter of the year, new figures show. 

Data from UK Finance reveals that 800 buy-to-let mortgaged properties were taken into possession in the quarter, an annual rise of 40%.

In total, there were 4,550 buy-to-let mortgages, which equates to 0.23% of all buy-to-let mortgages outstanding, in arrears of 2.5% or more, 5% fewer than in Q3 2018 and 1,170 buy-to-let mortgages with more than 10%, a 1% annual drop.

Mark Pilling, managing director of Spicerhaart Corporate Sales, said: “Arrears remain low, but with weak retail performance and worsening economic data, it’s difficult to imagine this being sustained long into the new year.

“The mortgage possessions figures are concerning – up 19% year on year for homeowners, and 40% for buy to let. UK Finance are right to point out that this stems in part from historic cases but it is nonetheless a significant jump.”

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    Probably caused by the failed court system - unless you know otherwise.

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