This is an article on negative equity mortgage solutions that are available in the UK market.
Put simply, if your mortgage is higher than the value of your property, then you are in negative equity.
Main Causes Of Negative Equity
There can be various causes for having a property in negative equity and you definitely did not start out buying the property initially.
The property crash and financial crisis in 2008 caused a lot of house properties to fall in value and they still haven’t recovered.
Although there has been a small increase in property values since then, it has not been enough to remove many householders out of the pain of negative equity.
Now with the coronavirus covid-19 pandemic, the financial crash has been even more severe and it is going to take longer to recover from.
What Are Negative Equity Mortgage Solutions?
Some people just want to wait and see what will happen, but this is not your best solution as it is no solution at all.
You are going to have to be proactive and do something positive about this serious problem.
Why not get in touch to see all of the solutions that are available to you.
See also Northern Ireland Negative Equity.