According to the latest statistics released by the Ministry of Justice (MoJ), mortgage possession claims and orders both rose in the period from April to June 2017 (Q2).
The MoJ’s quarterly report advises that:
- There were a total of 5,186 mortgage possession claims issued in the County Court, an increase of 17% on the same quarter last year;
- There were a total of 3,343 orders for possession made, an increase on the previous quarter and an 8% increase on the same quarter last year.
The introduction of the Pre-Action Protocol for Possession Claims, which was introduced amid concerns over the effect of the credit crunch and which came into force on 19 November 2008, has undoubtedly helped limit such claims. It is also the case that claim levels remain some way off their peak of 26,419 in 2009.
However, the increasing trend might well spark concern for conveyancing solicitors and valuers, who are often a target for lenders seeking to recover any shortfall suffered following the re-possession and disposal of mortgage property.
You can view the full MoJ report here.