In the first quarter of 2023, the challenging economic conditions, with the rise in cost of living, has led to a significant increase in home repossessions, with over 1,000 properties being taken back by lenders due to borrowers struggling to meet their mortgage obligations.

  In this article, we continue to review the latest Gov.uk repossessions figures which were released in early February, covering the period October-December 2022. Using the data, we’ll analyse the areas within East England to see where there have been increases and decreases in the number of repossessed properties recorded last year.

  Mortgages are currently needed for 7 out of every 10 home purchases. Those seeking a mortgage are required to have more income now due to the rising mortgage rates. Due to this, buyers are becoming more and more selective with the areas they choose to invest in.

  Following on from our latest blog post where we provided commentary on UK house prices rising for the third month in a row, we are going to look are UK areas where house prices have risen the most in the last decade.

  Our next deep-dive into the latest Gov.uk repossession figures see us reviewing the areas within Yorkshire and The Humber. In this article, we’ll look back on the number of repossessed properties recorded for 2022 and how this compares to previous periods in order for us to locate some key hotspots for investors searching for […]