Negative equity comes home to haunt one in 10 borrowers ; Market drops 20% in 18 months, trapping a million homeowners
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Summary
ONE in 10 homeowners was in negative equity during the first quarter of the year, the Bank of England said yesterday.
The Bank estimates that between 7% and 11% of homeowners owed more to their lender than their property was worth during the first quarter, the equivalent of between 700,000 and 1.1 million households.See the full content of this document
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Negative equity comes home to haunt one in 10 borrowers ; Market drops 20% in 18 months, trapping a million homeowners
In addition, around 200,000 buy-to-let investors are also estimated to have owed more on their mortgage than their property was worth.
It is thought some of these may also be i...See the full content of this document
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