Sunday September 20, 2020

Negative equity products just a start

As the number of people in negative equity grows, only a few will be able to take advantage of mortgages tailored to enable them to improve their situations, writes Emma Kennedy.

4th March, 2012
2
Trapped in negative equity: the harsh reality being endured by thousands of Irish homeowners. Photo: Getty

Almost half the mortgaged properties in Ireland are now likely to be in negative equity, according to figures published by the Central Bank last month, meaning the outstanding mortgage was greater than the value of the property.

According to a report by the bank's economists, at the end of 2010 more than 145,000 houses, with total outstanding mortgages of €41 billion, were in negative equity.

The report estimated that, if house prices were to fall a further...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 8 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago