The proportion of prime UK residential mortgages that are three months or more in arrears has more than doubled in the past year, according to new data.

Moody’s, the credit ratings agency, published data on Tuesday showing that the proportion of mortgages within securitisation vehicles, which are in arrears by 90 days or more, was 0.74 per cent of all loans in the first quarter of 2008. That had jumped to 1.66 per cent in the first quarter of 2009.