Well we don’t feel that you deserve it, here at debt advice now but it’s not a pretty site for homeowners in the Uk.

More proof of the frail position of the Uk housing market, who’d be a home owner?

The following article which we thought that we’d share with you, gives more food for thought.

More than 800,000 homeowners in negative equity, says CML

A sluggish property market and people buying at the wrong time has resulted in 827,000 households in negative equity with 14% of all households under pressure to meet that month’s repayment, according to new figures from the Council of Mortgage Lenders (CML).

Negative equity is where the current value of the property falls below the original mortgage amount secured on it.

Some parts of the country have seen greater weakness in house prices in the current cycle and are therefore more likely to have borrowers in negative equity, said the CML.

Northern Ireland, Yorkshire and Humberside and the north east of England are in this category. Lower levels of equity make it more difficult for people to move home, which has contributed to lower housing market activity in recent years.

The CML said the point in time the loan was taken out had a dramatic impact on the incidence of negative equity and that half of negative equity cases relate to loans taken out in 2007, when lending conditions were at their most competitive and house prices at their peak.

Nearly a third of continuing loans from 2007 are in negative equity, the CML estimated.

However, the CML said the current number “does not compare” with the early 1990s, when the number of households in negative equity peaked at 1.6 million, since today’s lenders have more options to offer struggling borrowers.

Options available to lenders include moving customers from a repayment to interest-only mortgage, allowing them a payment holiday or offering to move them to a different deal

So as we say so many times don’t delay contact debtadvicenow today you know it makes sense.:-)