More than 150,000 Londoners expect to miss mortgage payments

Data from mortgage servicing platform Eligible AI shows that mortgage-holders in London are more than twice as likely to expect to miss a payment in the next six months compared to the rest of the UK. The survey found that 9% of Londoners with a mortgage expect to miss a payment in the next six months. That compares to 4% across the UK as a whole. That would suggest more than 150,000 Londoners missing payments in the coming months In addition, 39% of Londoners cited mortgage payments as a significant cause of financial-related stress. The survey also found that 12% of London's mortgage holders do not understand the terms of their mortgage as they do not communicate with their lender. 

Evening Standard (26/02/2024)