Brokers call for negative equity mortgages
One of the country’s largest broker groups has said the introduction of negative equity mortgages would be ‘‘a positive economic move’’, writes Emma Kennedy.
Rachel Doyle, director of mortgage services at the Professional Insurance Brokers’ Association (Piba), said that facilitating those who may be in negative equity to move home could be positive for both the individual and the economy.
‘‘The fact that someone is currently in negative equity does not necessarily mean that trading-up is beyond their means,” said Doyle. ‘‘If affordability is established, such a person may well improve their long-term financial situation, due to the...
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