13 August 2015
New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions fell 49.6% in Q2 2015, compared with the same period last year.
Commenting on the figures, Fiona Hoyle, Head of Consumer Finance at the FLA, said:
“The further decrease in repossessions reflects second charge mortgage lenders’ commitment to helping customers in financial difficulty.”
Table 1: The number of actual properties taken into possession by FLA second charge mortgage providers1
Number of possessions
% change on the same quarter in the previous year
|Annual total||% change on the previous year|
- Possession proceedings arising from FLA members’ second charge mortgage books, which have led to actual possession by the second mortgage provider.
- There were changes to the sample in Q1 2012 and Q1 2013 due to changes in FLA membership.
Notes to Editors
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2014, FLA members provided £100 billion of new finance to UK businesses and households. £74 billion of this was in the form of consumer credit representing almost a third of total new consumer credit written in the UK last year.