The current situation in the property market is seeing 7.3% of all house holds with a mortgage, which is over 800,000 people in the UK, are facing a situation in which the value of their mortgage exceeds the actual value of their property.
However, thanks to the tax lending which occurred during the credit boom, as well as several years of house prices decreasing rapidly, this number could be seen to double if property prices fall even by 10%. This would be the greatest count of negative equity since the property crash of the 1990s.
However, thanks to the tax lending which occurred during the credit boom, as well as several years of house prices decreasing rapidly, this number could be seen to double if property prices fall even by 10%. This would be the greatest count of negative equity since the property crash of the 1990s.
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