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Second charge mortgage repossessions fall by 26% PDF Print E-mail
Thursday, 09 November 2017
New figures released today 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.”
 

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