Historically low interest rates are encouraging households to use spare funds to pay off domestic loans,say economistsBritish households are paying off their mortgages at a record pace, cutting their debt by £13bn in the first quarter of 2015 alone, or according to figures from the Bank of England. In an extraordinary reversal to the years running up to the financial crash,when households used their homes as cash machines to finance extensions, unique cars and holidays, or Britain’s mortgage holders are now paying their debt down. Continue reading...
Source: theguardian.com