Negative equity mortgages an option for just 'a few per cent' of borrowers

Negative equity mortgages will be an option for only a limited number of homeowners, and may not give the property market the kickstart that some expect, banking sources have warned.

31st March, 2012
Negative equity mortgages an option for just 'a few per cent' of borrowers
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Negative equity mortgages will be an option for only a limited number of homeowners, and may not give the flagging property market the kickstart that some expect, banking sources have warned.

A report published by the Central Bank in February suggested that almost half of all mortgaged properties in the country were now in negative equity, meaning that hundreds of thousands of borrowers have an outstanding mortgage balance greater than the market value of their...

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