Second charge mortgage repossessions remain low in Q3 2018

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.”