Second-charge repossessions down 50%

Second-charge repossessions down 50%

The Finance & Leasing Association (FLA) has revealed that the number of second-charge mortgage repossessions in the first quarter of 2017 was 17, down by 50% compared with the same quarter in 2016.

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.

“Together with the UK Cards Association and the University of Bristol, the FLA has launched Vulnerability: A Guide for Debt Collection, which sets out best practice for ensuring customers get prompt and practical help when they need it most.”