Best option may be to stay put for a while
MANY first-time buyers who took out a 100pc mortgage to buy their house in the past two or three years now face the prospect of negative equity.
Negative equity will only really affect homeowners if they decide to sell their property.
If selling your home, you will still have to repay the full mortgage -- even if the price secured for your home is less than your outstanding mortgage.
The most obvious option for homeowners worried about negative equity is to stay put. But you may have to wait a while for a reversal in price drops. Think about adding value to your home instead of moving.
