Britons repay mortgage debt at record levels

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Britons repay mortgage debt at record levels

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07-05-2009, 10:40 AM

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Britons repay mortgage debt at record levels

The days in which Britons used their houses as banks and paid for home improvements and lifestyles by regularly remortgaging and drawing on equity have long passed. Stricter lending criteria and falling house prices resulted in homeowners paying back a record £8.1 billion during the first quarter of 2009, according to the Bank of England. The combined [...]

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