New figures published by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions was 55 in Q3 2015, down 48.6% on the same quarter in 2014.

Commenting on the figures, Fiona Hoyle, Head of Consumer Finance at the FLA, said:

“Second charge mortgage lenders continue to demonstrate appropriate forbearance in assisting customers in financial difficulty.  With just Q4 remaining, the number of repossessions in 2015 as a whole is expected to be significantly lower than in 2014.”