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
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.
||Proportion of mortgages in arrears
||Buy To Let Residential
|Yorkshire and Humberside
|Average for Great Britain
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.