The number of buy-to-let mortgage holders who have fallen behind on their payments has risen by 29%.
Figures from UK Finance showed that 11,540 were in arrears in Q3, a 29% jump from Q2 and a doubling compared with the same period in 2022.
In total, 87,930 homeowner mortgages were in arrears in the three months to the end of September. As well as being up 7% on the preceding quarter, this is 18% higher than a year earlier.
The overall number of homeowner and buy-to-let loans that are behind on payments is well below the 207,200 that were in arrears during the same period in 2009, but economists have raised concerns about the rise.
