Mortgage repossession claims reach five-year high as families risk losing their homes to Conservative chaos

Mortgage possession claims have reached their highest level since 2019 as soaring mortgage rates since the mini budget hit homeowners, figures published by the Ministry of Justice today have revealed.

Mortgage possession claims occur when banks or lenders take homeowners to court before repossessing their home. The latest figures show there were 5,182 mortgage repossession claims in the first quarter of 2024, the highest number since 2019.

Commenting, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

“These deeply worrying figures show a steep rise in families at risk of losing their homes due to soaring mortgage rates.

“This Conservative government crashed the economy with their disastrous mini budget and sent mortgage rates spiralling. But now Rishi Sunak and Jeremy Hunt have failed to lift a finger to help those impacted by this Conservative chaos.

“It is unforgivable and shows just how out of touch the Conservative Party is with people struggling to get by.”