£4 billion worth of mortgage debts were paid off in the final quarter of last year, according to figures from the Bank of England. It’s the seventh quarter in a row in which the amount home owners unlocked from their properties was negative. Experts say many people see low interest rates as an opportunity to clear their mortgage debts, and are making overpayments. Although this is helping many homeowners out of negative equity and aiding debt management, some experts think it could be bad for the country’s economic recovery as less money is being spent on the high street.
£4bn mortgage debts paid in Q4 2009
April 15, 2010 By
