Home Property Finance & InvestmentMortgages Second charge repossessions fall by 30 per cent in Q3 2019

Second charge repossessions fall by 30 per cent in Q3 2019

by LLP Editor
18th Nov 19 11:37 am

New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2019 was 25, 30.1% lower than in the third quarter of 2018.

The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.06% in the twelve months to September 2019.

Commenting on the figures, 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.”

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