Seconds repossessions plummet 45pc

There were 70 seconds repossessions in the first quarter of 2015, down from 79 in the fourth quarter of 2014 and 128 in the first quarter of 2014.

Fiona Hoyle, head of consumer credit at the FLA, said: “Second charge repossessions are continuing to fall as second charge lenders continue to do all they can to help customers in financial difficulty.”

In the whole of 2014 there were 447 repossessions, down from 676 in 2013.

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