Times have changed in recent years, mainly due to the global recession and the economic downturn which has amongst other things crippled the housing market here in the United Kingdom. Prior to this downturn statistics showed that on average UK homeowners moved house once every five to seven years, this however is no longer the case, many homeowners are stuck in negative equity and simply owe more to the bank or building society than their house is actually worth making selling up and moving near impossible, unless your willing to make a loss and use those savings that you put away for a rainy day to make up the different.
There is however another option, that option is don't move improve, meaning that if you find yourself in this situation simply stay put and use any savings to improve or completely remodel your home. If you are fortunate enough to be in fulltime employment and can comfortably pay your mortgage, your household bills and still put a little money away then why is being in negative equity a big problem?Home ImprovementsRemodelling
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