Quick mortgage news

Negative equity news from Morgan Stanley - statistic

15.2% of Charcol's 2007 borrowers took mortgages of 90% or more of their property's value.

Many of these will now be out of the highest risk group nowdue to some increase in their property value last year.

The risk of negative equity becomes real when borrowers get into difficulty with high mortgage payments.

Very few lenders can offer mortgages above 90% now, so it is vital that homeowners reprioritise their spending for this year pay off capital wherever possible, to ensure they qualify for a remortgage when the time comes.

A valuable £1,200 can be knocked off your debt with an overpayment of £100 a month.

For further information please contact: Katie Tucker BA(Hons) CeMAP Technical Manager www.Charcol.co.uk.

Tel: 0845 413 1243 Email: kxt@charcol.co.uk.

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