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Weekly Edition - Publication date:- 2016-12-02

-en Southport & Mersey Reporter

Local News Report  - Mobile Page


Homeowners in the North West 76% more likely than landlords to be in arrears

HOMEOWNERS in the North West are 76% more likely than landlords to be in arrears, Computershare, the UK's largest 3rd party servicer of mortgages has said.  The financial services company's mortgage servicing arm, Computershare Loan Services, which manages over half of all outsourced mortgages in the UK, has disclosed that 1 in every 110 buy to let mortgages (0.91%) in the North West is currently in arrears by at least a month compared to one in every 63 residential loans (1.6%).  The arrears figures for the North West were also higher than averages for Great Britain as a whole, where 1 in every 73 (1.37%) or residential mortgages and one in every 167 (0.6%) buy to let mortgages are behind on their payments.

Region Proportion of mortgages in arrears Buy To Let Residential
East Midlands 0.15%  1.23%
East Anglia 0.20% 1.36%
South East  0.25% 1.10%
South West 0.28% 0.89%
Yorkshire and Humberside 0.55% 1.27%
West Midlands 0.69%   1.25%
North 0.82% 1.23%
North West 0.91% 1.60%
Greater London 0.94%  1.96%
Scotland 0.95% 1.31%
Wales 1.41% 1.81%
Average for Great Britain  0.60% 1.37%

Andrew Jones, Chief Executive Officer at Computershare Loan Services, said:- "When mortgages fall into arrears, problems can arise for borrowers, lenders and tenants, so loans must be administered in a way that takes into consideration the individual circumstances of every customer.  Computershare Loan Services continues to lead the way in preventing and reducing arrears by using advanced analytical systems to predict problems and facilitating support for those who need it.  For over a quarter of a century we've done everything we can on behalf of clients to work with borrowers, particularly those significantly behind on their payments, to find a solution that takes into consideration their circumstances."

In November 2016 Computershare Loan Services announced that it will provide both origination and post completion services for Sainsbury's Bank, and recently won a new 7 year contract providing a full 3rd party servicing model for all Vida Homeloans mortgages. Earlier this year, the company was appointed by the UK Government to service mortgages for UK Asset Resolution (UKAR). Computershare Loan Services currently services over £71 billion of mortgages and loans, which represents over half of the outsourced mortgages in the UK.


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