Phoebus comments on UK Finance arrears and possessions data
09 February 2024
Following the latest arrears and possessions figures from UK Finance, we have a comment from Adam Oldfield at Phoebus Software.
Adam Oldfield, chief revenue officer at Phoebus Software, said: “While we’re seeing a disturbing volume of arrears among homeowners, the drop in possessions is more optimistic. We’re hoping that Q1 2024 will continue along this healthier path, as market sentiment seems to have turned a more positive corner since Q3 2023.
“That said, the level of arrears and possessions in the buy-to-let sphere is a continuing concern for lenders, who are no doubt highly aware of the mood in Europe, where fallout from the struggling US property market has most recently hit Germany’s Deutsche PBB, whose bonds this week slumped over concern about the bank’s property exposure.”