Of the quarter of homeowners who are concerned about negative equity, 11% said that they had bought their home at the height of the property boom.
A further 8% of those with negative equity worries are on an interest-only mortgage and were hoping that their property would be worth more than they borrowed.
Commenting on the findings, chartered financial planner at Fairinvestment.co.uk, Sharon Bratley said: "Our results show that as house prices continue to fall, a large number of mortgage holders are becoming worried about their position.
"This is on top of the fact that mortgage rates are slow to fall and repossessions are on the up. The Government has tried to relieve this added stress for homeowners, but it is clear that more needs to be done before house prices fall further and push more people to worry about negative equity.
"However, for those considering equity release to supplement their retirement, negative equity is unlikely to be a real issue in practical terms as most people considering this option are likely to be mortgage free.
"What it will mean, however, is that the reducing value of the property consequently leads to a reduced amount that can be borrowed."
For more details on the survey see
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