Negative equity 'worrying UK homeowners'
Negative equity 'worrying UK homeowners'
Tuesday 27th January 2009
According to findings from fairinvestment.co.uk, 25 per cent of UK mortgage holders have expressed concern about negative equity, with property prices continuing to fall.
Of these homeowners, 11 per cent bought their house at the height of the country's property boom, making them particularly worried about the prospect of their home becoming worth less than the amount they borrowed.
Sharon Bratley, chartered financial planner at the company, commented: "Our results show that as house prices continue to fall, a large number of mortgage holders are becoming worried about their position.
"The government has tried to relieve this added stress for homeowners, but it is clear that more needs to be done before house prices fall further and push more people to worry about negative equity."
According to the latest survey from Hometrack, property prices have fallen by 9.4 per cent in the last 12 months.
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