Social housing repossessions at lowest ever levels

Published on

Housing Association rents arrears policies are working according to Mobysoft, a rental data analytics provider.

Data from PCOL was analysed by Mobysoft, which concluded that, in the year 2000, 81% of landlord possession claims were from the social as opposed to the private sector. By the end of 2014, this figure had dropped to 62.1%.

While the private rental sector has grown, the analysis also supports the fact that housing associations have made considerable headway in their arrears management. This is supported by reports from housing associations such as Amicus Horizon which has reduced their court cases by 260 in just ten months and saved £40,000 in 2015 alone. Eviction rates by the association have also reduced year on year from 62 in 2012/13 to 45 in 2014/5.

Derek Steele, CEO of Mobysoft said: “Although the percentage reduction in social housing repossessions is in part a reflection of the growing private sector, it also shows the huge progress that housing associations have made in their arrears management.

“The roll out of Universal Credit could be the real test for many housing associations’ arrears management, and we would encourage any association that doesn’t already have very robust reporting, metrics and collections policies in place to do so fairly quickly as our experience with arrears shows that, once they start, they are very challenging and expensive to bring back under control.”

Mark Walker, head of income at Amicus Horizon, added: “We believe in tackling the problem of rent arrears sensitively. It is all about early intervention, and we are now able to sustain more tenancies and have 500 less residents in arrears compared to last year.

“In our particular case, we have employed Mobysoft’s RentSense, whose unique analysis of our tenant data has enabled our income team to become more efficient and focus their time and resources on the tenants that really do need support. As a direct result of using this tool, our arrears fell by £325,000 in 2014.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Access FS mortgage business rises 46.8% in record July

Access Financial Services recorded its strongest month for mortgage business in July, with activity...

LiveMore launches mortgage podcast for brokers and advisers

LiveMore has launched a podcast series covering developments in the specialist and later-life lending...

Mortgage myths deter would-be first-time buyers

Misconceptions about mortgage eligibility may be prompting aspiring first-time buyers to abandon their plans...

Dudley Building Society publishes guide to trusts

Dudley Building Society has published a guide explaining how trusts can be used to...

Eleos partners with Homebox to target underserved renters

Eleos has partnered with household bills platform Homebox to offer life insurance and income...

Latest publication

Other news

Access FS mortgage business rises 46.8% in record July

Access Financial Services recorded its strongest month for mortgage business in July, with activity...

LiveMore launches mortgage podcast for brokers and advisers

LiveMore has launched a podcast series covering developments in the specialist and later-life lending...

Mortgage myths deter would-be first-time buyers

Misconceptions about mortgage eligibility may be prompting aspiring first-time buyers to abandon their plans...