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Phoebus comment on UK Finance Mortgage Market Forecast 2024-5
16 December 2024
Richard Pike, chief sales and marketing officer at Phoebus, said: “Mortgage arrears levels are heading in the right direction, down three percent this year with a five per cent drop forecast for next year. This is to a large extent driven by lender forbearance, which will have greatly helped alleviate the financial pressures that consumers have been experiencing.
“Any increase in possessions generally means increased collections activity and therefore lenders should be considering backend and servicing processes for optimal efficiency via automation to support customers and drive their business profitably into the future.”
