Monday, July 6, 2009

Fitch negative equity stats – huge impacts in some towns

Negative equity in Oxford on the rise

OXFORD house owners are trapped with a negative equity of over £11,000 on average, according to a new report.Global rating agency Fitch Ratings has estimated the average house in Oxford is worth £11,276 less than its owner’s debt, with homeowners unable to get out of negative equity by overpaying their mortgages because of salary freezes, overtime bans, soaring household bills and job losses.

Posted by the ginger ninja @ 10:25 PM (553 views)
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