{"id":19732,"date":"2013-03-10T14:00:44","date_gmt":"2013-03-10T07:00:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/trapped-in-negative-equity-with-nowhere-to-go\/"},"modified":"2016-07-14T21:35:07","modified_gmt":"2016-07-14T14:35:07","slug":"trapped-in-negative-equity-with-nowhere-to-go","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/trapped-in-negative-equity-with-nowhere-to-go\/","title":{"rendered":"Trapped in negative equity with nowhere to go"},"content":{"rendered":"


\nNegative equity and a dearth of first-time buyers have trapped many families wanting to upgrade to a bigger homeTom Green and his wife, Keira, bought a flat in Solihull, near Birmingham, in February 2008 as the property market reached its peak. “We took on a 125% mortgage from Northern Rock \u2013 at that time it was sold as ‘your property will increase in value, so it’s no problem’,” he says. However, just a couple of months later the market collapsed. “It’s a big flat and there were just the two of us, so we decided to stay put and wait it out. We thought after a couple of years things would pick up,” he says.Instead, five years on, Tom Green thinks it is still worth less than the \u00a3122,500 they paid. They have watched as the neighbourhood has become less desirable and nearby properties have hung around on the market for years. “There are no first-time buyers left \u2013 they’ve all vanished, certainly at the level we want to sell at.” Continue reading…
\n
\nSource : theguardian.com
\nRead more…Trapped in negative equity with nowhere to go<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Negative equity and a dearth of first-time buyers have trapped many families wanting to upgrade...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-19732","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-58g","jetpack-related-posts":[{"id":63432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/900000-homeowners-pushed-into-negative-equity-says-mortgage-body\/","url_meta":{"origin":19732,"position":0},"title":"900,000 homeowners pushed into negative equity, says mortgage body","date":"April 17, 2009","format":false,"excerpt":"\r Figures show 1 in 10 property owners in north-east living in houses worth less than mortgageFalling house prices have pushed more than 900,000 homeowners into negative equity, according to the industry body representing mortgage lenders.The latest data from the Council of Mortgage Lenders issued yesterday, reveals that the north-east\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3015,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-sees-spurt-in-negative-equity-home-owners-as-property-prices-tumble\/","url_meta":{"origin":19732,"position":1},"title":"Hong Kong sees spurt in negative-equity home owners as property prices tumble","date":"January 29, 2016","format":false,"excerpt":"\r The number of Hong Kong homeowners who owe more than the value of their property has shot up for the first time in nearly a year and a half as property prices fall faster than expected amid a market turmoil while new flat supply is set to climb to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100638,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/negative-equity-returns-to-hong-kong-as-small-flats-value-drop-by-20-per-cent-in-a-declining-market\/","url_meta":{"origin":19732,"position":2},"title":"Negative equity returns to Hong Kong as small flats\u2019 value drop by 20 per cent in a declining market","date":"October 29, 2018","format":false,"excerpt":"\r Scores of homeowners in Hong Kong are on the verge of falling into negative equity, with small flats in older buildings losing up to a fifth of their value in a matter of weeks. Many people who bought flats in the last couple of months have seen their value\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171290,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/were-trapped-developers-unpaid-debt-leaves-london-flat-owners-unable-to-sell\/","url_meta":{"origin":19732,"position":3},"title":"\u2018We\u2019re trapped\u2019: developer\u2019s unpaid debt leaves London flat owners unable to sell","date":"April 2, 2026","format":false,"excerpt":"\r Hackney leaseholders feel council made the problem worse by leaving \u00a3850,000 debt uncollected for eight yearsLeaseholders in east London have said they are \u201ctrapped in unsellable homes\u201d because of an \u00a3850,000 debt owed by the building\u2019s developer to Hackney council, who have let it go unpaid for eight years.The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138210,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/help-to-buy-has-trapped-me-in-an-unsellable-cladded-flat\/","url_meta":{"origin":19732,"position":4},"title":"Help to buy has trapped me in an unsellable cladded flat","date":"July 5, 2023","format":false,"excerpt":"\r My block failed a fire safety inspection after Grenfell, but the scheme won\u2019t allow me to buy a second propertyI own a flat in a cladded block which failed its fire safety inspection and is now unsellable. I bought it in 2017 with a \u00a3180,000 help-to-buy loan when I\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103412,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-100-mortgage-is-back-is-it-worth-the-risk\/","url_meta":{"origin":19732,"position":5},"title":"The 100% mortgage is back \u2013 is it worth the risk?","date":"January 28, 2019","format":false,"excerpt":"\r A new mortgage from Lloyds Bank lets first-time buyers borrow the entire cost of their new home. But this isn\u2019t a return to the pre-financial crash lending frenzyIt is a 100% mortgage but not, thank goodness, as we once knew them. Lloyds Bank\u2019s new Lend a Hand mortgage offers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/19732"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=19732"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/19732\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=19732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=19732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=19732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}