I wonder could those who have mortgages in negative equity and who wish to change mortgage provider use the 'long term economic value' to further their case. AIB and BofI believe in this principal, currently all the rage, that Irish property will recover in 2 to 3 years and I don't see why they wouldn't be willing to take on new customers currently in negative equity but who will not be in a couple of years. There is no risk to the bank after all. Any broker want to try that on behalf of their clients. You should have the big two queuing up for business !
Have I missed something in my economic analysis of people in negative equity?
Have I missed something in my economic analysis of people in negative equity?