Falling house price trap
Falling house price trap
- 1992
- Times 2 June 1992, 17 .
At least 278,000 first-time buyers have mortgages larger than the current values of their properties according to official figures from the Council of Mortgage Lenders. A report to be published by UBS Phillips & Drew, the securities house, says that if second-time buyers, those remortgaging and those in arrears are included in the calculation, almost 2m people have liabilities that exceed their assets.
FALLING MARKET
FIRST TIME BUYERS
HOUSING MARKET
MORTGAGES
REMORTGAGING
At least 278,000 first-time buyers have mortgages larger than the current values of their properties according to official figures from the Council of Mortgage Lenders. A report to be published by UBS Phillips & Drew, the securities house, says that if second-time buyers, those remortgaging and those in arrears are included in the calculation, almost 2m people have liabilities that exceed their assets.
FALLING MARKET
FIRST TIME BUYERS
HOUSING MARKET
MORTGAGES
REMORTGAGING