Coventry's right move; Cash point.

Byline: TRICIA PHILLIPS

COVENTRY Building Society has thrown a lifeline to borrowers trapped by falling house prices.

Following Nationwide's move in June to help customers in negative equity, Coventry is also giving borrowers with homes worth less than their mortgage the chance to move.

The measure is only available to customers who have an excellent credit history and no additional borrowing is allowed.

Coventry Building Society's Colin Franklin says: "We are offering a sensible level of support to people we have a relationship with who are facing real difficulty in moving."

This is good news for those in negative equity, who must relocate or accommodate a growing family.

Andrew Hagger of Moneynet.co.uk says: "This common sense approach from Coventry should be applauded. The dreaded 125% LTV figure conjures up memories of reckless lending in the boom years, however this is anything but.

"It's an example of what building societies are good at, looking after their customers. Let's hope more lenders follow this positive lead."

Of course, owing more than the value of a property is a risky business.

But hundreds of thousands of people are already in that situation.

If you're one of them you need to try to reduce the debt. Even small mortgage overpayments will help.