900,000 homeowners pushed into negative equity, says mortgage body

Falling 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 of England has the highest proportion of people trapped in properties worth less than their mortgages.

There, one in 10 owner-occupiers are in negative equity. By contrast, in East Anglia and Scotland it is one in 100.

The council said that its latest national estimate compares with the more than 1.5 million homeowners left struggling under the weight of their home loans following the early 90s housing market crash.

Read more: 900,000 homeowners pushed into negative equity, says mortgage body

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