Negative equity homeowners need more help - Cable

Cable also criticised the banking industry for failing to realise its lending practices had become reckless in recent years. Following the British Bankers Association (BBA) announcement that mortgage approvals had fallen to an all-time low, the Liberal Democrats said repossessions are likely to increase dramatically in the near future. Cable claims the BBA figures suggest the UK housing market is in a severe slump, and further falls can be expected. He also criticised the banking industry for creating a bubble in house prices. “I wish the BBA, which is now facing up to reality, had been ...