New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2018 was 36, 5.9% higher than in the same quarter in 2017.

The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2018 was 0.09%.

Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The latest figures show that the number of second charge mortgage repossessions remained low in the third quarter, and market expectations are for this to continue in the final quarter of 2018. If a customer is concerned about meeting payments they should speak to their lender as soon as possible to find a solution.”

 FLA Possessions

Table 1:  The number of actual properties taken into possession by FLA second charge mortgage providers1

 

Time period

 

Number of possessions in the quarter

 

 

% change on the same quarter in the previous year

 

Annual total

 

% change on the previous year

 

2008 Total

2009 Total

2010 Total

 

2011 Total

 

2012 Total

 

2013 Total

 

Q1 2014

Q2 2014

Q3 2014

Q4 2014

 

Q1 2015

Q2 2015

Q3 2015

Q4 2015

 

Q1 2016

Q2 2016

Q3 2016

Q4 2016

 

Q1 2017

Q2 2017

Q3 2017

Q4 2017

 

Q1 2018

Q2 2018

Q3 2018

 

 

 

 

 

 

128

133

107

79

 

72

67

56

33

 

34

40

31

39

 

25

39

34

38

 

45

38

36

 

 

 

 

 

-43.4%

-27.3%

-25.7%

-35.8%

 

-43.8%

-49.6%

-47.7%

-58.2%

 

-52.8%

-40.3%

-44.6%

18.2%

 

-26.5%

-2.5%

9.7%

-2.6%

 

80.0%

-2.6%

5.9%

1,612

1,467

 

864

 

827

 

6282

 

676

 

 

 

 

447

 

 

 

 

228

 

 

 

 

144

136

-9.0%

-41.1%

-4.3%

-24.1%2

7.6%2

 

 

 

 

-33.9%

-49.0%

-36.8%

-4.9%

 

 

 

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