Second-charge repossessions fall in 2012
The association revealed that 628 properties were repossessed in 2012 as opposed to 827 during 2011.
Fiona Hoyle, head of consumer finance at the FLA, said: “2012 saw a further fall in the number of repossessions made by second-charge mortgage providers.
“We expect repossessions in 2013 to be at a similar level to last year.
“If customers are experiencing difficulties with meeting their repayments they should contact their lender to discuss the situation. As always repossession is a measure of last resort used only after all other measures have failed.”