Second charge mortgage repossessions down 50% in Q1

The number of second-charge mortgage repossessions in Q1 2017 was 17, down by 50 per cent on the same period of 2016, according to the Finance & Leasing Association.

FLA head of consumer and mortgage finance Fiona Hoyle says: “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.”

In total there were 144 such repossessions in 2016, 228 in 2015 and 447 in 2014.