Buying into EVN Suggestions please, page-11

What spare capital? Or do you mean spare capacity?

Also not sure what dodgy apartments you are talking about.

In regards to negative equity:
The only people who would be sitting in negative equity would be people who bought their properties in the last two years and timed the market wrong (since anyone who bought before would have seen sharp increases in equity before market falls).
From a credit modelling perspective, the chances of going into arrears in the first two years in minimal since banks have assessed borrowing capacity and deemed the borrower fit to service their loans.

Keep in mind that just because someone is sitting on negative equity doesn't mean there is any change to their ability to repay. In fact, interest rates have dropped so if anything they have more discretionary spending power.
Negative equity is more problematic for the actual lenders since the drop in property values means the buffer is gone and they could make losses. When the property prices drop low enough regulations force banks to have to revalue their loan portfolios and likely increase the capital banks need to hold.

Maybe I'm an optimist but I don't see discretionary spending as a massive issue, especially with the tax cuts and the lower interest rates.