Second-charge repossessions continue to fall – FLA

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  • 10/08/2017
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Second-charge repossessions continue to fall – FLA
There were 36 second charge mortgage repossessions in the second quarter of this year, a fall of 10% on the same period of 2016.

That’s according to new figures from the Finance & Leasing Association (FLA), which also revealed that the annual rate of second charge repossessions as a percentage of average outstanding agreements had fallen from 0.08% to 0.06%.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said 53 properties had repossessed so far in 2017.

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

The news follows figures from UK Finance which confirmed that the number of UK mortgages in arrears is at its lowest level since at least 1994, though there is a significant north-south divide opening up.

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