The term mortgage implosion refers to the dramatic decline in the number of mortgage approvals in the UK and other countries affected by the housing downturn. Upto June 2007, the mortgage lending market was very competitive and lenders eager to attract customers through offering non traditional mortgages such as interest only, low deposit mortgages and [...]

Falling house prices can lead to a loss of confidence in the housing market; but, in the short term your mortgage is unlikely to be directly affected. If you bought a house costing £160,000 with a 90% mortgage. Your mortgage would be £144,000. A fall in house prices would still leave you with a £144,000 [...]