Second charge mortgage loan repossessions down 35%

This is a 35.7% lower over the similar time period final year and four less than recorded in Q2 this year.

The amount of 2nd charge repossessions in the course of Q3 is really a considerable decrease on the 163 recorded in Q3 2012.

?¡ãThe third quarter of 2016 noticed even further reductions while in the number of 2nd charge mortgage repossessions, as lenders continued to settle into the FCA?¡¥s [Financial Perform Authority] MCOB [Mortgage Perform of Business] regime, even though also aiding customers with repayment troubles,?¡À said Fiona Hoyle, head of shopper and home loan finance with the FLA.

?¡ãWith just Q4 remaining, we expect the number of repossessions in 2016 like a complete to get reduce than in 2015.?¡À

So far 110 repossessions have taken spot in 2016, even though 228 have been recorded within the complete of 2015.