9 November 2017
New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2017 was 23, 25.8% lower than in the same quarter in 2016.
The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2017 was 0.06%, down from 0.07% at the same time in 2016.
Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said:
“The fall in second charge mortgage repossessions in Q3 further demonstrates lenders’ commitment to helping customers in financial difficulty.
“The number of repossessions in 2017 as a whole is expected to be at a similar level, or slightly lower, than in 2016.”
Table 1: The number of actual properties taken into possession by FLA second charge mortgage providers1
Time period
Number of possessions in the quarter
% change on the same quarter in the previous year
Annual total
% change on the previous year
2008 Total
2009 Total
2010 Total
2011 Total
2012 Total
2013 Total
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
128
133
107
79
72
67
56
33
34
40
31
39
17
36
23
-43.4%
-27.3%
-25.7%
-35.8%
-43.8%
-49.6%
-47.7%
-58.2%
-52.8%
-40.3%
-44.6%
18.2%
-50.0%
-10.0%
-25.8%
1,612
1,467
864
827
6282
676
447
228
144
-9.0%
-41.1%
-4.3%
-24.1%2
7.6%2
-33.9%
-49.0%
-36.8%
Possession proceedings arising from FLA members’ second charge mortgage books, which have led to actual possession by the second mortgage provider.There were changes to the sample in Q1 2012 and Q1 2013 due to changes in FLA membership.Notes to Editors
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit, representing over a third of total new consumer credit written in the UK in 2016.
Tag: Financial Results
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14 Nov 2017, 10:11 UTC · by Mircea Panait
/ Home / News / Car Profile
The X5 is one of the most successful members of the BMW lineup, with the mid-size sport utility vehicle being popular in Europe and the United States alike. Now in its third generation, the X5 prepares to make way for the fourth-generation model in the guise of the G05 X5. According to the latest reports, the newcomer should be presented in the summer of 2018.
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