The Council of Mortgage Lenders (CML) has released data that shows the repossession rate, already at its lowest since records began, continued to fall in Q2 2015. In that period, the rate was 0.02%, equivalent to just 1 in 5,000 mortgages. The total number of mortgages with arrears equivalent to 2.5% or more of the mortgage balance was 106,400, equivalent to 0.96% of all mortgages which is, again, the lowest rate since records began.

CML director general Paul Smee commented that: “Low interest rates are acting as a significant support for home-owners in general, and are likely to be helping to stave off low level arrears for stretched households in particular”.

For the full press release click here.

The Finance & Leasing Association (FLA) has released figures showing that the number of second charge mortgage repossessions fell 49.6% in Q2 2015, compared with the same period last year. 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.”

For the full press release click here.