[blynk]

I believe that is correct. And I also believe that we aren't the same as the US when the mortgage is greater than the house, then you can just mail the keys to the bank and walk away from the debt.

So it really only affects people that need to sell. They could sell for less than their mortgage which would mean that they could have a large debt to have to pay.

Even just moving house. If your mortgage ended up being 100% of the house price. When you go to move, you will only be able to borrow 80% of the next house. So effectively you have to find the deposit again.

So as mentioned, it affects the people that bought in the last few years. They will be stuck there.
Investors/Speculators. (Oh well, poor them. Thats the risk)