All possession actions by both landlords and mortgage providers have reduced significantly following Covid-19 impact and associated actions
The Financial Conduct Authority (FCA) announcements and the passing of the Coronavirus Act in March 2020 means that possession actions of all types initially dropped to unprecedentedly low levels and are now starting to recover. As a result, the data is unlikely to be representative of general trends in possession actions. Caution should therefore be used when interpreting and applying these figures.
Mortgage claims, orders, warrants and repossessions have decreased significantly when compared to pre-Covid levels
Compared to the same quarter in 2020, which was the start of Covid19 pandemic, all mortgage actions increased by over 100%. Mortgage possession claims increased from 161 to 2,498, orders from 146 to 402, warrants from 10 to 513 and repossessions by county court bailiffs increased from 3 to 44. However when compared to 2019, pre Covid19 mortgage possession claims, orders, warrants and repossessions by county court bailiffs have decreased by 60%, 90%, 89% and 96% respectively.
Landlord possession actions have also all decreased significantly
When compared to the same quarter in 2020, Landlord possession claims, orders, warrants and repossessions by county court bailiffs increased by over 100% across all actions. Possession claims rose from 3,023 to 7,000, orders from 656 to 5431, warrants from 274 to 3,709 and repossessions from zero to 1516. However, when compared to the same quarter in 2019, these actions have decreased by 74%, 75%, 73% and 80% respectively .
Mortgage and Landlord possession claims, and repossession rates have fallen across all regions
Decreases in possession claims have been recorded over all regions. Landlord claims remain concentrated in London (with 7 of the highest 10 claim rates).
Mortgage median average time (from claim to repossession) has increased to 105 weeks
The median average time from claim to mortgage repossession has increased to 104.6 weeks, up from 36.1 weeks in compared to the same period in 2019. In the same quarter in 2020, there were, no repossessions due to policy interventions.
Median timeliness for landlord repossessions has increased to 60 weeks The median average time from claim to landlord repossession has increased to 59.7 weeks, up from 19.6 weeks in the same period in 2019. There were no landlord repossessions in the same quarter 2020 due to policy interventions.
The above information has been provided by the Ministry of Justice's Quarterly report.