New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2017 was 23, 25.8% lower than in the same quarter in 2016.

The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2017 was 0.06%, down from 0.07% at the same time in 2016.

Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said “The fall in second charge mortgage repossessions in Q3 further demonstrates lenders’ commitment to helping customers in financial difficulty. The number of repossessions in 2017 as a whole is expected to be at a similar level, or slightly lower, than in 2016.”

Leave a Reply