FLA: Second charge repossessions fall by 30%
There number of second charge mortgage repossessions in Q3 dropped by 30.1% from year-on-year to 25, the Finance & Leasing Association (FLA) has found.
The rate of second charge mortgage repossessions as a percentage of outstanding agreements was 0.06% in the 12 months to September.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The second charge mortgage market has reported lower levels of repossessions in each quarter so far in 2019.
“We expect the market to report a record low total for the year as a whole.
“As always, any customer worried about meeting payments should speak to their lender as soon as possible to find a solution.”