First thing’s first. What is negative equity?
This is what happens if your house is worth less than your mortgage – which means that if the house was sold, the sale price wouldn't cover the mortgage in full. Well, despite what many think, it’s not the end of the world! You’re not stuck. In fact, there is ‘room to move’.
At EBS our negative equity mortgage allows our customers who are in negative equity to move. You can sell your current home and add any debt left onto the mortgage for a new home. Your new home will also be in negative equity, but you’ll be in a house you love.
Have a negative equity mortgage question? Request a call back from your local mortgage coordinator here.
What Are the Loan Options for Negative Equity Buyers?
There are two basic type of loan for negative equity buyers with EBS:
This is where you can add the negative equity to a new property of greater value than the value of the existing property.
This is where you can add the negative equity to a new property of lesser or equal value than the value of the existing property. For full details of this option, please see our Negative Equity Home Movers brochure here.
How Much Can I Borrow as a Negative Equity Buyer?
Features & Benefits
Fixed or Variable?