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Second charge mortgage repossessions fall by 50%

The number of second charge mortgage repossessions in the first quarter of 2017 saw a 50% year-on-year decrease, according to the latest figures from the Finance and Leasing Association.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The number of second-charge mortgage repossessions fell again in the first three months of this year, as lenders continued to support customers experiencing repayment difficulties.”

These figures come after the launch of their new publication Vulnerability: A guide for debt collection, which intends to help members identify customers in vulnerable circumstances.

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