Borrowers in northern England, Wales and Scotland are most susceptible to house price declines

Percentage of borrowers in negative equity

Percentage of borrowers in negative equity

20% house price decline

10% house price decline

20

15

10

5

%

1

20

15

10

5

%

1

Percentage of borrowers in negative equity

Percentage of borrowers in negative equity

20% house price decline

10% house price decline

20

15

10

5

%

1

20

15

10

5

%

1

Guardian graphic

Source: Moody's Investors Service with data from various RMBS servicers