Due to move this week, really worried about property crash and risk of negative equity. Sensible thoughts would be much appreciated.

[Entreprecurious]

I know people have much bigger concerns at the moment but could really do with some sane feedback.

Situation as follows:

• been planning this move for months and months, numerous set-backs
• sold our old home in Jan and moved out into rented accommodation
• exchanged a few weeks ago on new home
• have a great interest only mortgage set-up and a good ratio of deposit to loan etc, which leaves us with v low monthly mortgage outgoings

However, if house prices crash totally, we could end up in a really different position 2 years from now having lost all the equity on our home, with no access to an interest-only mortgage and paying much higher rates of interest. I have a start-up, which has been totally clobbered by the coronavirus so DH is the only one with a stable income. And we've no idea really whether he will still have that 2 years from now bearing in mind the widespread uncertainty.

It would be awful to pull out now, we would let down our sellers and their sellers so badly and I would hate to do that. But I'm genuinely concerned about the possibility of losing a huge sum (and all our security really) in equity.

Can anyone help me think this through? Thank you.

Unless the disparity between supply and demand for housing radically shifts as a result of COVID 19 prices will go down but they will bounce back up in a year or so.

So unless you are planning on moving again within 2 to 3 years it will not affect you in the medium- long term.

Obviously if millions of home owners die things would be different. But that is not going to happen.