Property Renovations Ely Ltd

A recent New Statesman article entitled ‘Crash: The housing crisis is just beginning’ contained the following alarming facts about house prices and the UK mortgage market:

- 250,000 UK households in negative equity
- 50% fall in net mortgage lending expected this year (£53bn)
- 12m mortgages outstanding in 2007
- 25% predicted average house-price drop during current crash
- 3,775 mortgage products available now
- 15,599 mortgage products available in July 2007

Source: New Statesman, 5th June 2008