Finance & Leasing Association13 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
| Time period | Number of possessions |
% change on the same quarter in the previous year |
Annual total | % change on the previous year |
| 2008 Total | 1,612 | |||
| 2009 Total | 1,467 | -9.0% | ||
| Q1 2010 | 262 | -33.7% |
||
| Q2 2010 | 230 | -45.8% | ||
| Q3 2010 | 212 | -48.7% | ||
| Q4 2010 | 160 | -31.9% | 864 | -41.1% |
| Q1 2011 | 195 | -25.6% |
||
| Q2 2011 | 234 | 1.7% | ||
| Q3 2011 | 220 | 3.8% | ||
| Q4 2011 | 178 | 11.3% | 827 | -4.3% |
| Q1 2012 | 151 | -22.6%2 |
||
| Q2 2012 | 139 | -40.6%2 | ||
| Q3 2012 | 163 | -25.9%2 | ||
| Q4 2012 | 175 | -1.7%2 | 628 | -24.1%2 |
| Q1 2013 | 226 | 49.7%2 |
||
| Q2 2013 | 183 | 31.7%2 | ||
| Q3 2013 | 144 | -11.7%2 | ||
| Q4 2013 | 123 | -29.7%2 | 676 | 7.6%2 |
| Q1 2014 | 128 | -43.4% |
||
| Q2 2014 | 133 | -27.3% | ||
| Q3 2014 | 107 | -25.7% | ||
| Q4 2014 | 79 | -35.8% | 447 | -33.9% |
| Q1 2015 | 70 | -45.3% | ||
| Q2 2015 | 67 | -49.6% |
- 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.
