60k negative equity and just finished IVA early

A question about : 60k negative equity and just finished IVA early

Help please . I have 3 bedroom flat that cost 271k thats interest only mortgage with 17 years left with the Birmingham Midshire but i have 60k negative equity . I recently managed to pay off my IVA early but it will be 18 months before its off my credit report and i am credit worthy again . The property i own solely is rented out thankfully long term . I am self employed & living in a rented cheap property and feel when the interest rates go up i will struggle . The rent from my property i own just about covers the mortgage and the ever increasing service charge ( Ј160 a month !).
Do i hold out and just keep paying the interest on the mortgage with the help of the rent or do i go bankrupt?? i spent 4 and a half years paying my IVA to try get credit worthy again so really do not want have another 6 years of no credit or chance of buying a house in the future..

Best answers:

• If you hold out for the next 17 years for the property to get to 100% LTV then you would of gained nothing.
  Do you think that the house prices in this area will go up that much?