Lloyds Banking Group has launched a mortgage product aimed at the Negative Equity Mortgage borrowers that have a mortgage with no capital in their property and they need to move home. This comes as inflation rockets, growth in the economy falls below zero and Mervyn King the Governor of the bank of England recently...
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Negative Equity Mortgages Return The return of negative equity mortgages has become widespread again due to the collapse in the housing market which happened due to the global downfall of the banking system. The last time we saw mortgaged property worth less than the amount borrowed to purchase them was back in the late...
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At a time when all mortgage lenders have shown us they do not have an appetite to lend money, along comes the Nationwide with a pioneering new niche mortgage product for their existing borrowers. Last month they introduced their ground-breaking negative equity mortgage to their clients. This will allow their borrowers to borrow up...
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During the 1993 housing recession it was estimated that one and a half million homeowners had negative equity. The Council of Mortgage Lenders has announced that approximately 900,000 homeowners currently have some degree of negative equity. They believe around 600,000 of these homeowners have seen modest shortfalls of around 10%. When compared with the...
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