The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.06% in the 12 months to March 2020.

Fiona Hoyle, head of consumer and mortgage finance at the FLA, said: “The rate of second charge repossessions remains very low – just 0.06% in the twelve months to March 2020, and in line with FCA guidance, repossessions have not been taking place during the coronavirus period.

“Any customer worried about meeting payments should contact their lender as help is available.”