The problem of negative equity
The problem of negative equity
- 1992
- Financial Times 7 November 1992, 8 & VI Times 7 November 1992, 32(2) .
A consumer-led recovery is viewed as unlikely with 1.5m mortgage holders with negative equity. In an attempt to address the mortgage debt trap, the Woolwich have launched a scheme, whereby parents` homes can be used as security against the shortfall on the sale of their children`s property.
BUILDING SOCIETIES
HOME OWNERSHIP
MORTGAGE DEBT
NEGATIVE EQUITY
RECESSION
WOOLWICH BUILDING SOCIETY
A consumer-led recovery is viewed as unlikely with 1.5m mortgage holders with negative equity. In an attempt to address the mortgage debt trap, the Woolwich have launched a scheme, whereby parents` homes can be used as security against the shortfall on the sale of their children`s property.
BUILDING SOCIETIES
HOME OWNERSHIP
MORTGAGE DEBT
NEGATIVE EQUITY
RECESSION
WOOLWICH BUILDING SOCIETY