Tens of thousands could face negative equity by end of year

Up to 100,000 homes could be pushed into negative equity by the end of this year because of the credit crunch, the Council of Mortgage Lenders (CML) stated last week

William Kay, The Times - 25 May 08

While this was far more optimistic than a recent Morgan Stanley prediction that as many as 2m households could face negative equity by the end of 2009, it is still a significant admission from the lenders’ trade body.

The council, which represents most large UK home lenders, including the leading banks and building societies, issued its estimate alongside a forecast that house prices will be around 7% lower at the end of this year than at the end of last year - full  Article