Negative equity
Negative equity
- 1992
- 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) .
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.
BUILDING SOCIETIES COMMISSION
HOUSING MARKET
MORTGAGES
NEGATIVE EQUITY BORROWERS
NEGATIVE EQUITY
UNSECURED LOANS
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.
BUILDING SOCIETIES COMMISSION
HOUSING MARKET
MORTGAGES
NEGATIVE EQUITY BORROWERS
NEGATIVE EQUITY
UNSECURED LOANS