Second charge repossessions fall in Q2 2019

New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2019 was 24, 38.5% lower than in the second quarter of 2018.

The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.07% in the twelve months to June 2019.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “The first half of 2019 has seen a significant fall in the number of second charge mortgage repossessions and our current forecasts suggest a record low total in 2019 as a whole.”

“As always, any customer worried about meeting payments should speak to their lender as soon as possible to find a solution.”