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Brits pay nearly ?10 billion off their [url=http://www.shewyne.com/woolrichoutlet.html]woolrich sito ufficiale[/url] mortgages in three monthsArticle Summary: With [url=http://www.thehygienerevolution.com/hollister.php]hollister france[/url] interest rates on savings continuing at very low rates in the UK, it is not surprising that Brits are paying down their mortgages instead of saving. According to official figures, the amount owed on mortgages fell by a net ?9.8 billion in the second quarter of 2012 [url=http://www.davidhabchy.com]barbour outlet[/url] but experts believe that the trend is due to an [url=http://www.corsodiesperanto.it/peuterey.php]peuterey outlet[/url] inability to remortgage rather than an attempt to pay off debt.
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Mr Robinson added: “If high net worth finance clients are looking to release equity from their homes, they should speak to [url=http://www.rtnagel.com/louboutin.php]louboutin pas cher[/url] a broker that specialises in large mortgages and has access to a range of banks with an appetite to lend as do many of the London mortgage advisers. There are lenders that will allow you to release capital from your home, often on extremely competitive terms."
With interest rates on savings continuing at very low rates in the UK, it is not [url=http://www.hi-ho.ne.jp/cgi-bin/user/take1sin/aska.cgi]barbour online shop If Your K[/url] surprising that Brits are paying down their mortgages instead of saving. According to official figures, the amount owed on mortgages fell by a net ?9.8 billion in the second quarter of 2012 but experts believe that the trend is due to an inability to remortgage rather than an attempt to pay off debt.
Homeowners in the UK continued to pay off their debts in the second quarter of 2012. According to official figures, the amount owed on large mortgages fell by a net ?9.8 billion between April and June of this year but experts believe that the trend is down to homeowners being unable to remortgage rather than a drive to pay off debt.
With interest rates on savings continuing to be low, is it [url=https://support.caustic.com/forum/newtopic]hollister sale Cash Advances Online Are Often The Next Step For Financial Help - written by Holly Petherbridge[/url] a surprise that Brits are paying their mortgages instead? We investigate.
Brits reduce total mortgage borrowing for 17th consecutive quarter
The Independent reports that Britons reduced their mortgage debt between April and June this year - the seventeenth quarter in a row. It brings the cumulative net injection of equity into houses since the second quarter of 2008 to ?133.2 billion.
However, experts disagree as to why Brits are continuing to pay off their high value mortgages. The Bank of England [url=http://www.corsodiesperanto.it/woolrich.php]www.corsodiesperanto.it/woolrich.php[/url] said there was 'little sign' that households [url=http://www.tagverts.com/barbour.php]barbour online shop[/url] are trying to pay down their debt more quickly than in the past, but instead that mortgage repayments have not been balanced with increased loans through remortgaging.
Mortgage lending continues to be slow, with recent figures released by the British Bankers' Association (BBA) showing that mortgage approvals for house purchases in August were 13 per cent lower than a year ago. The number of remortgages is also low with many borrowers unable to increase the size of their mortgage due to falling house prices or tightened lending criteria.
Islay Robinson, director of London mortgage broker Enness Private Clients, said: "As [url=http://www.corsodiesperanto.it/hoganit.html]www.corsodiesperanto.it/hoganit.html[/url] homeowners are paying down their debts, fewer borrowers are able to remortgage to release equity from their property. High net worth mortgage clients are finding it tough to withdraw equity thanks to lower 'loan to value' limits imposed lenders."
However, other experts believe that Brits are taking positive steps to pay off their debts. Howard Archer, chief UK and European economist for [url=http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&rd=1&item=350246435893&ssPageName=STRK:MESE:IT]abercrombie milano Guidelines[/url] IHS Global Insight, pointed out that the latest figure is creeping back up towards the record ?10.2 billion of housing equity injection seen in spring 2011.
He said: "Extremely low savings interest rates have undeniably made it much more attractive for many people to use any spare funds that they have to reduce their mortgages.
"In particular, many people may be using the extra money that is resulting [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] from their very low mortgage interest payments to reduce [url=http://www.sidegemeinde.com/peutereyoutlet.php]peuterey sito ufficiale[/url] the balance that they still owe on their houses."
As mainstream lenders have tightened [url=http://www.par5club.com/louboutin.php]louboutin[/url] their lending criteria it has been more difficult for high value mortgage clients to secure remortgage finance. Even in areas where property prices are rising, accessing equity in the present climate can be tough.
Mr Robinson added: "If [url=http://www.marrakech-hotel.fr]hollister france[/url] high net worth finance clients are looking to release equity from their homes, they should speak to a broker that specialises in large mortgages and has access to a range of banks with an appetite to lend as do many of the London mortgage advisers. There are lenders that will allow you to release capital from your home, often on extremely competitive terms."
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