Falling house price trap
Language: English Series: Times ; 2 June 1992, 17Publication details: 1992Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB2822-35 (Browse shelf(Opens below)) | 1 | Available | 26517-1001 |
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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.