Mortgage arrears have hit record levels (Image: GETTY) The proportion of mortgage balances in arrears has increased to its highest level in six years in the third quarter of this year. The Bank of England said the proportion of the total loan balances with arrears, relative to all outstanding mortgage balances, increased on the quarter from 1.02 percent to 1.14 percent. This is the highest level since the second quarter of 2017. Total outstanding mortgage balances with arrears increased by 11.4 percent from the previous quarter, rising to £18.8billion, according to figures from the Mortgage Lenders and Administrators. This was up…
