New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017.
The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018 was 0.09%.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“The latest figures show that the number of second charge mortgage repossessions remained low in the second quarter, and market expectations are for this to continue in the second half of 2018.
“If a customer is concerned about meeting payments they should speak to their lender as soon as possible to find a solution.”