Withdrawing equity from your house was huge before the credit crunch. Now it’s back. But is it a sensible way to borrow?Soaring house prices and low interest rates mean homes are once again the piggy banks from which owners are releasing wads of cash.Negative equity has almost vanished in the latest house price boom, according to estate agency Countrywide. It says that while 60% of first-time buyers who bought before 2007 found themselves by 2008 with a home worth less than the mortgage, today the number is just 6%. Continue reading…
Source : theguardian.com
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