Repossessions made by second-charge mortgage providers were down by 37.21% in the second quarter of 2012 compared with the first three months of the year, according to latest figures from the Finance & Leasing Association (FLA).
The FLA’s second-charge mortgage lenders repossessed 147 properties during the second quarter of the year.
The trade body has forecast that total repossessions made by second charge lenders in 2012 will be around 600-650 for the year.
“Repossession levels for second charge mortgage lenders continue to fall as lenders do all they reasonably can to help customers in financial difficulty to remain in their homes,” Fiona Hoyle, the FLA’s head of consumer finance.
“Due to forbearance by lenders, the FLA has now lowered its forecast for 2012 repossessions.”
