21 September 2021

Mortgage and Property Report September 2021

By Alex Maddox
Capital Market & Digital Director

Welcome to the seventh edition of Kensington’s Special COVID-19 Update Series. In this newsletter, we look back on the COVID-19 crisis and the impact it has had and continues to have on the mortgage industry. We focus on the mortgage payment deferral scheme which has now come to an end, the government’s two income support schemes and the end of the repossession moratorium.

Key Highlights

  • Mortgage Payment Holidays (MPHs) which were used by close to 2 million mortgage customers in the UK during the pandemic, have ended, and Kensington has exited the last of its MPHs
  • Despite initial concerns, the impact on loan performance to date has been limited, but the impending end of the income support offered by CJRS and SEISS could change this
  • The moratorium on repossessions has led to an increase in late-stage arrears in UK mortgage portfolios and this is expected to take some time to reverse as the backlog of cases is dealt with

Download the report here.


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