![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/nationwide-expects-house-prices-to-fall-by-6-5-from-peak-seen-last-year/&media=https://uknews.evprotec.com/wp-content/uploads/2023/07/1_Row-of-houses-with-for-sale-signs-in-front-of-them.jpg&description=We'll be bringing you the very latest updates, pictures and video on this breaking news story A Nationwide boss says house prices are expected to fall by 6.5% from the peak seen last August. Henry Jordan, Nationwide's home commercial director told MP's this afternoon that the lender expected "slight falls" He added: "We have a very, very low exposure to negative equity currently, it's 0.1% of our book. "So we're not seeing those movements in house prices really have any specific bearing." When asked by MPs what a 6.5% fall would do, Mr Jordan said: "It won't increase materially." He said this was because only around 2.5% of homeowners had a loan-to-value rate higher than 90%, partly because of the boom in house prices during the pandemic, "so there's headroom". We'll be bringing you the very latest updates, pictures and video on this breaking news story. Please check back regularly for updates on this developing story HERE. Get email updates on the day's biggest stories straight to your inbox by signing up for our newsletters. Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you by following The Mirror every time you see our name. Follow The Mirror on Google News : CLICK HERE and click the star Follow The Mirror on Apple News : CLICK HERE available on Apple devices Follow The Mirror on Flipboard : CLICK HERE and click follow You can sign up for Twitter alerts for breaking news here @MirrorBreaking_ and follow us @DailyMirror, for all the latest updates. Keep up-to-date with your must-see news, features, videos and pictures throughout the day by following us on Facebook at facebook.com/dailymirror See all our social accounts you can follow here: mirror.co.uk/social Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter){kind=link}
UK house prices are expected to fall from their peak in August last year following the 13 consecutive interest rate hikes from the Bank of England and rising mortgage rates
One of the bosses at Nationwide Building Society today said he expects house prices to fall by 6.5% from the peak seen last August.
Henry Jordan, Nationwide home commercial director, told MPs this afternoon that some house prices have already fallen roughly about 4%.
He then predicts some further “slight falls” to around 6.5%.
He added: “We have a very, very low exposure to negative equity currently, it’s 0.1% of our book.