Repossessions down by 26.3% in Q4 2018

New figures released by the FLA show that the number of second charge repossessions in 2018 was 147, 8.1% higher than in 2017.

In the final quarter of 2018, the number of repossessions was 28, down by 26.3% compared to the same period 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, 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.”

Source: FLA
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