By Chris Dorrell Banks reported that default rates increased in the final quarter of 2023, albeit at a slower pace than the quarter before, but lenders are concerned that things will get worse again in the coming months. According to bank responses to the Bank of England’s quarterly credit conditions survey, default rates on secured lending – which includes mortgage lending – increased in the final quarter of 2023. A net balance of 23.6 per cent of lenders reported an increase in defaults in the quarter. While this signalled that default rates had increased, the figure was down from 43.3 per c…