CHL report arrears fall
Out of over 40,000 live mortgage accounts just 0.93% of buy-to-let cases were in three month arrears at the end of Q4 2014, representing a fall of 6 basis points from the previous quarter.
CHL are outperforming the buy-to-let market as a whole, as The Council of Mortgage Lenders revealed last week that 1.07% of cases were in arrears in Q1 2014.
Bob Young, managing director at CHL Mortgages, said: “The latest CML industry figures continue to show falls in arrears levels across both owner-occupier and buy-to-let mortgage business which is a strong sign of the improvement in borrowers’ ability to afford their mortgage finance and perhaps a signal of growing improvement in the wider economy.
“In terms of the buy-to-let market our continued outperformance of the sector as a whole is particularly pleasing given that falling arrears levels are one of the strongest key performance indicators of the business.”
CHL’s arrears levels have fallen consistently since 2009 and are now at a six year low.