Second-charge mortgage repossessions decrease 36% in Q3

11th November 2016

New figures released today by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Q3 2016 was 36, down 35.7% on the same quarter in 2015.

Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said “The third quarter of 2016 saw further reductions in the number of second-charge mortgage repossessions, as lenders continued to settle into the FCA’s MCOB regime while also assisting customers with repayment difficulties. With just Q4 remaining, we expect the number of repossessions in 2016 as a whole to be lower than in 2015.”