Mortgage boom as homeowners cash in and try to reduce debts - Mortgages, Money - The Independent
The number of different mortgage deals has climbed to its highest level for more than two-and-a-half years. But in the same period homeowners have turned their backs on lenders' offers, instead choosing to reduce their mortgage debts.
The Bank of England reported yesterday that homeowners paid £5.8bn off their mortgages in the first quarter of 2011. That followed a record £7.1bn reduction in housing debt in the last three months of 2010.
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