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Friday, 3 July 2009

Record Mortgage Repayments

Mortgage holders repaid a record amount of their mortgages in the first quarter of 2009. The total in the first three months was £8.1bn, taking repayments to £76bn for the year to end of March 09.

The credit crunch and low savings rates are obviously encouranging people to start paying down their mortgages. It also reflected the larger deposits required by lenders for mortgages.

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