Negative equity means the current value of your home is less than the mortgage you have on it. This can happen for a number of reasons but it’s normally caused by falling property prices.

For example, if you bought 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.

You may not know whether or not you’re in negative equity. The first thing to do is find out how much you owe on your mortgage. You can check on the internet bank, call us on 0800 30 20 11 or in branch.

You’ll then need to find out the value of your home. You can get a rough idea by using our house price index tool or by using an online property website or, to get a more accurate value, you can ask a local estate agent or surveyor but you may be charged for this.