Second-charge mortgage repossessions falls by 50%

New figures released by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Quarter 1 2017 was 17 – down by 50% compared with the same quarter in 2016.

Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The number of second-charge mortgage repossessions fell again in the first three months of this year, as lenders continued to support customers experiencing repayment difficulties. Together with the UK Cards Association and the University of Bristol, the FLA has launched Vulnerability: A Guide for Debt Collection, which sets out best practice for ensuring customers get prompt and practical help when they need it most”.

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 Q1 2013 Q2 2013 Q3 2013 Q4 2013 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	226 183 144 123 128 133 107 79 72 67 56 33 34 40 31 39 17	49.7%2 31.7%2 -11.7%2 -29.7%2 -43.4% -27.3% -25.7% -35.8% -43.8% -49.6% -47.7% -58.2% -52.8% -40.3% -44.6% 18.2% -50.0%	1,612 1,467 864 827 6282 676 447 228 144	-9.0% -41.1% -4.3% -24.1%2 7.6%2 -33.9% -49.0% -36.8%