meera chindooroy: Of those more than a thousand are in serious arrears of 10 per cent or more, according to The Independent. A further 800 were repossessed in the last quarter, despite lenders being encouraged to offer more help to those struggling with repayments. Figures from UK Finance show that 4,550 buy-to-let mortgages were in arrears of 2.5 per cent or more of the total borrowing in the third quarter of this year. Lenders continue to show flexibility to borrowers in financial difficulty and possession is always a last resort, UK Finance, the trade body for the banking and finance industry, was at pains to point out. While these figures are shocking, they're hardly surprising considering the volatile environment in which landlords run their businesses, warns Meera Chindooroy, policy and public affairs manager for the National Landlords Association. Download the new Indpendent Premium app Sharing the full story, not just the headlines Download now It argues that part of the surge is from a backlog of cases being resolved at the same time, but landlords are clear that this is a sign of things to come.
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