Fewer borrowers in negative equity

AOL Money Staff
Estate agents
Estate agents

The number of mortgage borrowers thought to be in negative equity has dropped by 13% over the last year and a half, lenders have said.

The improvement means that more than 100,000 fewer borrowers are estimated to be in negative equity - where their mortgage balance is bigger than the value of their home - compared with the first quarter of last year, said the Council of Mortgage Lenders (CML).