Thousands of homebuyers in negative equity
Figures provided to the BBC by the Council of Mortgage Lenders show that 23,000 homebuyers took out 100% mortgages in the 12 months to March this year. With house prices as measured by HBOS (Halifax) back to the level of January last year, this means that many if not most of those who took out 100% mortgages since then will now be in negative equity.