By Lars Mucklejohn The proportion of UK mortgages in arrears rose to its highest level since 2016 at the end of last year, according to data from the Bank of England, as borrowers were squeezed by high interest rates and household costs. The central bank’s figures showed that during the last three months of 2023, the share of outstanding mortgage balances in arrears rose to 1.23 per cent from 1.12 per cent in the previous quarter – the highest level since the final quarter of 2016. The value of these balances in arrears came in at £20.3bn, a 9.2 per cent rise from the previous quarter and a 50…
