Seconds repossessions down by 26.3% in Q4 2018
14 February, 2019
category: Second Charge, Secured
In the final quarter of 2018 there were 28 second charge repossessions, down by 26.3% compared to the same period in 2017, The Finance and Leasing Association (FLA), has found.
The number of second charge repossessions in 2018 was 147, 8.1% more than in 2017.
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The low number of repossessions in the market shows that lenders are committed to helping those in financial difficulties.
“The sooner customers make contact, the easier it is to find a solution.”
The number of properties repossessed during the 12 months to December 2018 represents 0.09% of the number of outstanding agreements in that period.
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