UK mortgage arrears hit a six-year high in the three months to September, according to Bank of England data, reflecting the impact of high borrowing costs on household finances.
The proportion of total loan balances with arrears, relative to outstanding mortgage balances, rose to 1.14 per cent in the third quarter from 1.02 per cent in the previous three months, figures on Tuesday showed.
The data marked a reversal of a long-term decline in outstanding mortgage payments and a new high since the second quarter of 2017.
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