Specialist Lending

Second charge mortgage repossessions down 10%

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10th August 2017

New figures released today by the Finance & Leasing Association have revealed that the number of second charge mortgage repossessions in Q2 2017 was 36, 10% lower than in the same quarter in 2016.

According to the figures, the annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q2 2017 was 0.06%, down from 0.08% at the same time in 2016.

Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The latest figures show that the number of second charge mortgage repossessions in the first half of 2017 fell to a new half-year low.  

Lenders remain committed to helping those in financial difficulty and exploring options to help customers manage their repayments more effectively.”

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