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Forums > Riding the Rhino - In Debt? Need Help? > PROPERTY & DEBT
Subject: How to: get out of negative equity

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Dementoid
Posts:279
15-09-2009 2:54 PM Alert 

John Fitzsimons busts some myths about negative equity, and explains how best to get out of it. Watch this video now!
PaulSkinner
Posts:1
16-09-2009 4:16 PM Alert 
John is quite right, negative equity does need to be a problem, unless you want to sell your house.

However, many people are concerned about what will happen when their current mortgage deal comes to an end. Being in negative equity can be a problem when it comes to remortgaging, and so many people will have to revert to their lender's Standard Variable Rate. Currently this may well be a good option, as some SVRs are lower than many fixed rates, but what about when interest rates rise again?

We have started using a scheme that allows you to use "hedging" to remove the risk of interest rate rises. With this scheme it does not matter what type of mortgage you have, which mortgage lender you are with, or if you have no equity (or even negative equity). You simply pay a fee and the hedging company takes all the interest risk.

Keep up the good work John.

Regards

Paul Skinner
PKS - http://pks.org.uk
Johnny Debt
Posts:279
16-09-2009 4:25 PM Alert 
Hello Paul - welcome to the site.

Are you able to give more information on "hedging" ?
Johnny Debt
07870 492521
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Forums > Riding the Rhino - In Debt? Need Help? > PROPERTY & DEBT > How to: get out of negative equity


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