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Second charge repossessions fall by nearly 40%

Figures from the Finance & Leasing Association show that second charge mortgage repossessions came to 24 in the second quarter of this year.

This represents a 38.5 per cent drop than was recorded in Q2 2018.

There were 149 repossessions of properties held under this category of mortgage in 2018 – 85 of them having occurred in the first half of the year.

In the first half of 2019, there have been 48 repossessions.

FLA head of research and chief economist Geraldine Kilkelly says: “The first half of 2019 has seen a significant fall in the number of second charge mortgage repossessions and our current forecasts suggest a record low total in 2019 as a whole.”



Second charge market continues to expand: FLA

The second charge mortgage market grew significantly for the eighth month in a row this April, according to the Finance & Leasing Association. Overall, there were 2,206 new agreements made, a 24 per cent change on the previous year. This means that there have been 25,243 new agreements in the 12 months to April, itself […]


BoE holds rate at 0.75%; hints at rise if Brexit deal struck

The Bank of England’s monetary policy committee has voted unanimously to keep the base rate at 0.75 per cent. The rate has now been at this level for nearly a year, having been raised from 0.50 per cent on 2 August 2018. The minutes reveal that the MPC has cut UK growth expectations for 2019 […]


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