With claims that house prices have been on the rise for over a year it may seem strange to see that in fact in the East Midlands the percentage of borrowers in negative equity is between 6-10%. This compares to just 1% of borrowers in London.
Overall 463,000 homeowners across the UK still have loans worth more than their houses are worth. This could be bad news for those homeowners when the interest rates are expected to rise in April 2015.
If you’re a homeowner in a similar situation and would like to find out your options contact us today.