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Find out more about negative equity

Negative equity means that your outstanding mortgage balance is larger than the actual value of your home.

For example, if you purchased a property for £180,000, with a mortgage for £150,000 and the property is now only worth £100,000, you would be in negative equity.

Find out if you're in negative equity

The first thing to do is find out how much you owe on your mortgage. You can do this by:

  • Checking your account on the Internet Bank or by logging in to the Nationwide Banking app
  • by calling us on 0345 609 25 30 (Monday to Friday, 8am to 6pm. Saturday 8.30am to 4pm. Closed Sundays and bank holidays).

Next, you’ll need to know the value of your home. You can get a rough idea by using an online property website. A more accurate valuation can come from an estate agent.

What should you do if you're in negative equity

You don’t need to do anything. As long as you keep making your monthly mortgage payments you may soon be out of negative equity, either because the value of your home has risen, or because you’ve reduced the amount you owe to below the value of your home.

You can still move home or switch your deal in negative equity

To be eligible to move home, we will ask that you:

  • Have a need to move home.
  • Are in permanent employment.
  • Can afford the new borrowing.
  • Agree to a new mortgage on a capital repayment basis.
  • Are not moving to a new build, shared ownership or shared equity property.

We’ll need to see your three most recent bank statements and proof of income. Visit our proof of income guide

If you need more help with your negative equity questions, call us:

Monday to Friday, 8am to 6pm.
Saturday 8.30am to 4pm.
Closed Sundays and bank holidays.

0345 609 25 30