a reporter knocked on my door and asked how i feel about living in a street with one of the highest risks of negative equity

[oranges]

Feel a bit and wasn't sure what to say. I bought nine years ago so am not too bothered but still........should I be bothered? It's a two bed flat, and we had thought of moving but after being gazumped twice I gave up. ((dithers and wonders what she's posting for))

If you don't need to move any time soon, don't let it bother you.

I just want to know HOW they calculated it - the area is buzzing and prices shot up recently. We don't HAVE to move, but it does mean we have a toddler and no garden. Ah well, at least there are parks.

where are you?

Did you ask him/her why your street is at such high risk? Where did he/she get that from?

Central London, trendy-ish but not posh bit. I read the same report, by Experian, and there were no more details about how it was calculated.

I think it's from from this article:

www.thisislondon.co.uk/standard/article-23478211-details/The+negative+equity+map/article.do

I'm also on one of the streets close to one of the highest risk.

They've calculated it by using LTV:

i.thisislondon.co.uk/i/pix/2008/04/LTV-London.pdf

There was a report out in Eve Std naming ten riskiest streets in London and another last week by Experian which looked nationwide at blackspots (Hulme, Woolwich, Chatham). Lazy, follow-up reporting - wanted to find someone who wd burst into tears. Criteria for these lists always deeply .

Sorry, x-post with goodegg.

how do they calculate ltv? Is it at last summer's prices? They have a street on there that has no residences on it, which is why I am confused.

oooh, am in bright red consituency! and trying to sell the house . but our ltv ratio is about 10% so i'm worried about negative equity.

lol at wanting to find someone to burst into tears. the reporter did say, in an aggrieved voice - why is no-one bothered around here?

No-one knows your ltv but you. you might have 90% equity and be at extremely low risk of negative equity.

so how do they calculate ltv for an entire street? By asking the residents how much they owe?

We sold a flat in SE1 last year. I'm so glad we did now. There are several streets in SE1 on that list.

Maybe by guessing at an average? Who knows.
Where I now live is in the 'below average' category so I'm not too worried.

I'm in one of those 'high risk' areas. Couldn't give a flying monyeys!

I'm in SE1 too - I did think of selling, but there was nowhere nicer that I had a monkey's chance of affording. And we like being able to walk to work. I've got a very low LTV though.

Oh, maybe you're near our old flat. We were in Shad Thames.

we are closer to the market. Shad Thames is really nice, but i felt those places were overpriced from the word go. I had a friend who managed to lose money on a place there, while it was booming.

if you bought 9 years ago I imagine you're not at much risk. A lot of it is scaremongering anyway.

one of the papers was reporting on negative equity last weekend and the report went something along the lines of "negative equity is when your house is worth less than you paid for it." ... er no, negative equity is when your house is worth less than you owe on it, which is considerably different unless you got a 100% mortgage.

I used to live off Borough High Street too, in Trinity Church Square. Beautiful flat.
Shad Thames didn't go up in value that much tbh so I'm glad we've got rid of it now. Was lovely to live there when DS1 was tiny though.

Wannabe, which paper was that? How could they get something like that wrong?

I'm in SE1 too. I haven't taken much notice of that survey - Borough High Street is on it yet it has hardly any residential property so the results don't make a lot of sense. SE1 is a very large postcode area compared to many other London postcodes and contains a huge variation in property types.

I wondered about Borough High Street too.