Here are our top tips:
1.Stick it out. If house prices are fluctuating, it may be worth waiting to see if they rise again. As time goes on, your negative equity may lessen or even disappear, although this depends on the market and is out of your control.
2. Make home improvements that add real value. Do your research, speak with local estate agents and find out what changes you can make to up the value of your home on the current market - whether that’s a new kitchen, en suite or a small extension.
3. Pay off your mortgage in chunks or make regular overpayments. Although some lenders charge for early repayment, this is one way to dig yourself of negative equity relatively quickly - providing you have the cash to spare.
Your lender may allow for some overpayment without incurring charges, so it’s sensible to check with them to see if that is possible.