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LATEST NEWS & EVENTS Second-charge repossessions fall  Further good news for the residential property conveyancing sector has emerged as the Finance & Leasing Association (FLA) reports that second-charge mortgage repossessions have fallen. It comes as the Council of Mortgage Lenders releases new statistics that show the number of homes repossessed last year was 24 per cent lower than in 2009. The FLA data reveals second-charge mortgage providers repossessed 864 properties in 2010, 41.1 per cent down on 2009. Head of consumer finance at the FLA Fiona Hoyle said the figures show lenders are doing their best to avoid repossessing homes. "Our members are also working closely with first-charge mortgage providers to avoid situations where both first and second-charge lenders are trying to repossess the same property, minimising legal costs for borrowers," she added. Ms Hoyle suggested that homeowners will face more problems in 2011, particularly if interest rates and unemployment levels rise. Echoing advice from the CML and housing minister Grant Shapps, she said people should seek advice as soon as possible if they anticipate problems in making mortgage payments. Posted by Gaby Hamerton 
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