Latest figures show that over a million home owners are currently in negative equity. The Council of Mortgage Lenders has collated data from the UK’s banks and building societies to analyse February’s mortgage state.

Around 565,000 homeowners have equity of 5% of less in their property and another half a million have under 10 percent equity in their home. All these homeowners may find it difficult to remortgage as many mortgage products now require 10% equity of more on new mortgage deals.  Read more... (215 words, estimated 52 secs reading time)