Latest on Negative Equity
In the UK there are over 719,000 households in negative equity according to the Council of Mortgage Lenders (CML), basically where mortgages are worth more than the properties themselves. Northern Ireland is worst hit with a 35% rate of negative equity. The figure varies across the mainland where Scotland has a rate of 11%, England North West 15%, and London 5%. The CML estimates negative equity rates are reducing with initial figures thought to be around 800,000. This figure is way lower than the 1990’s crash when over negative equity cases peaked at 1.6 million homes in UK. The latest numbers from Land Registry has also revealed house prices in England and Wales increased by 1.7% in 2012, however they are still 11% below the level reached in November 2007.
If you are in negative equity and are starting to worry about making your mortgage payments please get in touch today. At Stewart Property Buyers we can buy your house for cash. We are able to buy houses very quickly all over UK, giving house sellers peace of mind allowing them to get on with their lives debt free. If you need to sell house fast for cash you can fill in our enquiry form or call us on 0800 324 7875. We can provide the quick house sale you need. We can help you whether you are selling house fast due to bad debt, missed mortgage payments, release equity, financial difficulty, poor health, relocating, divorce or separation, or even if you are a Landlord needing to sell a portfolio fast. We buy any house in any condition so there is no need for you decorate your house. Talk to one of our friendly team today, we are waiting to help you.