House Price Debt in the UK

An overview of UK debt
House price downturns

House Price Debt in the UK
A downturn in the housing market can be very sharp infdeed. Discounts of 20% or even 30% are not uncommon as people desperate to sell their house who find that smaller discounts are not working, try to jump the "queue" with a larger drop.

This is especially so when markets have gone up a lot, allowing such steep discounts to be taken on the chin by those who got in early, whilst still providing them good profits. In recent years property prices have more or less tripled and so it can be seen that a 20% or 30% discount is not too large in the big scheme of things. If you find you are in a negative equity situation due to a property downturn then you will certainly not be alone, and lenders will often of course be aware that the problem is widespread. Most will have schemes in place to deal with it. You will know when there is a property crash when you see negative equity schemes being advertised on the TV!

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