Mr Jim Brown:

The other thing is that the mortgage arrears issue is not an issue of positive or negative equity. The issue is around affordability. In general, people who have got into arrears have had issues with employment or lost their jobs. In such situations, putting in place an arrangement such as a temporary interest-only facility may be the right approach. Alternatively, they may have had a reduction in income as well. It is not positive or negative equity that determines whether someone has the affordability to live in a home.