Figures released by the Finance & Leasing Association show that the number of second charge repossessions in 2018 was 147, some 8.1 percent higher than in 2017.
In the final quarter of 2018, the number of repossessions was 28, down by 26.3 percent compared to the same period in 2017.
The number of properties repossessed during the twelve months to December 2018 represents 0.09 percent of the number of outstanding agreements in that period.
Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The low number of repossessions in the market shows that lenders are committed to helping those in financial difficulties. The sooner customers make contact, the easier it is to find a solution.”