Seconds repossessions fall by 25.7pc

Sarah Davidson

November 13, 2014

There were just 107 repossessions in the third quarter compared to 144 in Q3 2013.

In Q2 2014 there were 133 repossessions while there were 128 in Q1.

Fiona Hoyle, head of consumer finance at the FLA, said: “These figures show that second charge lenders remain committed to helping customers with repayment problems.

“The FLA has also worked with the regulator to allow first and second lenders to share information in repossession cases, to avoid customers facing duplicate costs and uncertainty.”

Seconds repossession totals for the whole of 2014 look set to fall short of the 678 recorded in 2013, as they currently stand at 378 with one quarter to go.

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