Bank of England Negative Equity Warning
Published / Last Updated on 14/06/2009
Bank of England Negative Equity Warning
The Bank of England has issued a warning that the speed with which the economy shrunk alongside house price falls may have delivered higher than anticipated levels of negative equity homes.
In the Bank of England’s quarterly bulletin it suggests that around 1m homes, around 7-10% of mortgages, are affected and that this negative equity could undermine confidence in Banks and Building Societies and further spread the risk of credit confidence and therefore money market liquidity.
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