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Interesting, I presume there aren't many interest only mortgages here, I know I used to have one years ago (endowment policy) Still seems a bit of a mythbusterish grey area, don't know whether to call it 'feasible but unlikely', or 'unfeasible, likely to be challenged'. I do believe banks...

After rereading some of these posts, it is still not entirely clear to me one way or the other. For instance in the terms and conditions referred to in the first post, the bank has the right to call a valuation on your home at any time (presumably in a general market fall), and then margin...

Its an interesting point, and to be fair to Shadow, well worth drilling down on, particularly in the light of the recent decisions against the lenders in the American courts regarding illegal repossessions. In truth I can't see it being an issue, or in the banks interest, in the normal...

Seems a matter of semantics, the way I understand it, the banks can't sell you home, just because of the negative equity, but can if you don't do something about it, ie stump up!, so basically they can act if you fall into negative equity.