Negative equity
Language: English Series: HM Treasury Press Release ; (103/92) 20 October 1992 | Financial Times ; 21 October 1992, 1&20 | Times ; 21 October 1992, 1 | Daily Telegraph ; 21 October 1992, 7 | Guardian ; 21 October 1992, 12 | Independent ; 21 October 1992, 22(6)Publication details: 1992Subject(s): Summary: The Government is introducing two measures designed to help homeowners with negative equity who wish to move house. Firstly the Building Societies Commission is to raise the amount which building societies may lend unsecured from £10,000 to £25,000. Secondly lenders will be allowed to exchange the security of one property for another against the original loan without the loss of mortgage interest tax relief. Secondary legislation required for introducing these measures is expected to follow.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB2841-24 (Browse shelf(Opens below)) | 1 | Available | 43608-1001 |
The Government is introducing two measures designed to help homeowners with negative equity who wish to move house. Firstly the Building Societies Commission is to raise the amount which building societies may lend unsecured from £10,000 to £25,000. Secondly lenders will be allowed to exchange the security of one property for another against the original loan without the loss of mortgage interest tax relief. Secondary legislation required for introducing these measures is expected to follow.