Negative equity concern growing, study finds
The sharp fall in property prices seen over the last year has left homeowners genuinely concerned about negative equity, a survey has revealed.
Fairinvestment.co.uk found that 25 per cent of mortgage holders are worried about the prospect, as they have watched the value of their home sink.
Chartered financial planner at the site Sharon Bratley noted that the government help that has been announced so far is unlikely to be enough to relieve the stress for many people.
"Our results show that as house prices continue to fall, a large number of mortgage holders are becoming worried about their position," she said, adding that an increase in repossessions and the flow fall of mortgage rates are adding to the problems.
Those looking for somewhere to live in London may wish to rent a house or flat in order to avoid the possibility of negative equity.
The research follows Firstrung's observation last week that first-time buyers will still need to build up a substantial deposit to obtain a mortgage, despite the government's latest initiatives.
Published 27th January, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
The sharp fall in property prices seen over the last year has left homeowners genuinely concerned about negative equity, a survey has revealed.