The number of repossessions for second-charge mortgages fell by 41.1% in 2010, compared with 2009, according to latest figures from the Finance & Leasing Association (FLA).
Second-charge mortgage providers repossessed 864 properties during 2010.
Fiona Hoyle, head of consumer finance at the FLA, said: “The figures show that second-charge lenders are making every effort to avoid repossessing homes. Our members are also working closely with first-charge mortgage providers to avoid situations where both first and second-charge lenders are trying to repossess the same property