In the final quarter of 2018, there was 28 second charge mortgage repossessions carried out, down by 26.3 per cent when compared to the same period a year earlier.
However, despite the drop, new figures published by the Finance & Leasing Association (FLA) revealed that the number of second charge repossessions in 2018 was 147, highlighting an 8.1% growth in the figure recorded in 2017.
The number of properties repossessed during the twelve months to December 2018 represents 0.09% of the number of outstanding agreements in that period.
Commenting on the figures, FLA head of consumer and mortgage finance Fiona Hoyle 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.”
Latest News
-
Residential property transactions fall 24% month-on-month
-
Later life lending loans jump 5.1% in Q4 2025
-
Mortgage Awards 2026: Winners announced
-
FCA outlines proposals to close gaps in borrowers’ credit files
-
St. James’s Place closes 2025 with record FuM
-
Average LTV on UK mortgaged home drops to 59% – IMLA
Mortgage Advice Bureau and AI in the mortgage sector
Chief executive officer at Mortgage Advice Bureau, Peter Brodnicki, and founder and managing director at Heron Financial, Matt Coulson, joined content editor Dan McGrath to discuss how Mortgage Advice Bureau is using artificial intelligence to make advancements in the mortgage industry, the limitations of this technology and what 2026 will hold for the market
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories