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Negative equity mortgages drop

July 25, 2014

The estimated number of residential mortgage loans in negative equity decreased to 30 cases at the end of June from 81 at the end of March, the Monetary Authority announced today.

 

These cases were mainly related to banks’ staff housing loans and housing loans under the mortgage insurance programme, which have higher loan-to-value ratio.

 

The aggregate value of residential mortgage loans in negative equity decreased to $129 million at the end of June from $345 million at the end of March.

 

The unsecured portion of these loans decreased to $3 million from $8 million during the same period.

 

Since the first quarter of 2011 there have been no residential mortgage loans in negative equity with delinquencies of more than three months.



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