The number of second charge mortgage repossessions fell 45.3% in the first quarter of 2015, compared with the same period last year according to latest data from the Finance & Leasing Association (FLA).

There were 70 second charge repossessions between January and March, compared to 79 during the same three month period in 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.”