As most homeowners will know falling into negative equity can bring with it many problems, not least of which is being tied to the home because the value of the property has fallen below the amount that is still owed on it. However, another problem that has been highlighted with regards to negative equity is that in some cases couples that have drifted apart or no longer want to be together are being forced to continue living under the same roof as a result of being in negative equity. (more…)
Posts Tagged ‘equity’
Negative equity threatens 1.7 million
Monday, September 15th, 2008According to a recent report around 1.7 million people are facing the threat of negative equity if house prices continue falling at the same rate as they have been for the past few months. Officials from Standard and Poor have predicted that over the next year house prices could fall by a further 17%, and if this happens around 1.7 million homeowners could be left facing negative equity. Negative equity is where the homeowner owes more on the property by way of mortgage than the property is worth. (more…)
Spreading the cost of your purchases by using your equity
Wednesday, April 16th, 2008Many people plan to make a large purchase each year, despite the fact that they may not have the funds available upfront to pay for this purchase. In the past this wasn’t too much of a problem, as most of us could enjoy pretty easy access to finance from a range of lenders, and getting finance such as a credit card, loan, or increased overdraft was not a problem for most. However, over recent months this situation has changed, and gaining access to affordable finance has now become extremely difficult. With lenders struggling to get the finance that they need to fund their lending operations consumers have really had to suffer when it comes to availability of and access to credit. (more…)
Tap into your home equity
Friday, April 11th, 2008Most homeowners have become increasingly aware of just what a valuable asset their home is over the past few years. Over recent years property prices in the UK have rocketed, and those that have owned their homes for some time have found that the value of the home has shot up compared to when they bought the property, leaving them sitting on a tidy sum of equity that is tied into the home. Equity levels have increased significantly for many homeowners across the UK over recent years, and because of this many have realised that their home could be the ideal asset against which to borrow money for a range of purposes. (more…)
Is it time to remortgage?
Thursday, February 28th, 2008Having the right mortgage is very important to most of us, as a mortgage is one of the most important, long term financial commitments that we are ever likely to make. Mortgages in the UK are typically taken out over a long period of time, such as twenty five years, and sometimes even longer, and it is inevitable that for many people their needs and circumstances will change over this long period of time. (more…)
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