Latest figures from the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in the third quarter of 2019 was 25.

This was 30.1% lower than in the third quarter of 2018.

The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.06% in the 12 months to September 2019.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “The second charge mortgage market has reported lower levels of repossessions in each quarter so far in 2019. We expect the market to report a record low total for the year as a whole.

“As always, any customer worried about meeting payments should speak to their lender as soon as possible to find a solution.”