Bank of England New Boy Says Recession Worst Over

1m Negative Equity Homes

Published / Last Updated on 17/04/2009

The Council of Mortgage Lenders' has released shocking figures that nearly one million homeowners are now in negative equity.

The news suggest that around 900,000 people are in negative equity and are therefore unlikely to move agin until property moves back in the positive equity adding more woes to an already stagnant mortgage and property market.

The good news though is that lenders have more money to lend and first time buyers are starting to come back at the lower end of the market which will stimulate demand eventually at the top end.

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Bank of England New Boy Says Recession Worst Over