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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Mortgage holders `concerned about negative equity`

16/09/2008

Rising numbers of mortgage holders in Britain are becoming concerned about getting into negative equity.

This is according to a poll of 3,000 people conducted by conveyancing specialists Barnetts, which found that more than a third (36.5 per cent) believed they were heading for such a situation, potentially putting them at risk of high levels of debt.

Similar research conducted by Standard & Poor`s in July this year found that only one in seven respondents were concerned that the loan they took out to purchase their property would become greater than its value.

"This is another clear indicator of the lack of public confidence in the resilience of the housing market and the encroaching impact of the credit crunch on decision-making," stated Tony Swift, conveyancing partner at Barnetts.

He added that the housing industry needs to take action in order to restore public confidence.

Meanwhile, mortgage lending in the UK fell by 71 per cent in July this year compared to the same month last year, figures produced by the Bank of England suggest.


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