More than 75,000 households could be plunged into negative equity this year, data from the biggest banks and building societies show. Daily Telegraph
Areas of Manchester, Glasgow, south-east London and Birmingham are said to be potential 'negative equity hot spots', as the value of the average home is only a modest amount above the mortgage on the property.
These areas are most susceptible to a fall in house prices and people face having their homes repossessed or may find themselves unable to move or take out a new mortgage.
The new analysis, from Experian, one of the country’s largest credit reference agencies, is based on information from more than 80% of Britain’s lenders.