Upside down on the other side of the pond:
Falling house prices mean the amount borrowed could be greater than the value of their properties.
The data from the Council of Mortgage Lenders comes as figures show the housing market is slowing down further.
Separate housing figures suggest the number of transactions per estate agent has hit a 30-year low.
there is no doubt it is highly likely that they took out these 100% mortgages because their estate agent or lender or both told them it was a good move to make.
This credit crunch or whatever you want to call it is worldwide and long-term.