The most obvious way to get out of negative equity is to reduce your mortgage. Once your outstanding mortgage is less than the value of your property, you are officially out of negative equity. You can do this in several ways.
* Overpay. This could mean overpaying your mortgage each month or paying off a lump sum as and when you have the cash. Any overpayments will reduce the amount of capital (the amount borrowed) you owe and this in turn will reduce the total amount of interest you have to pay on the loan.
* Use savings. If you have savings you could use these to reduce your mortgage.
* Stay put. Negative equity is only a problem if you sell up and have to repay your mortgage. If you stay put the fall in the value of your home is not an issue.
* Rent out a room. If you want to increase your mortgage repayments you may need to increase your income. One way of doing this is to rent out a room in your home.
* Get help. If you must move talk to your lender first. Your lender may let you transfer any negative equity to a new mortgage. For example, if you sell for £25,000 less than your mortgage, you may be able to add this amount to your new mortgage.