The people who are home owners have made an addition of 9.8 billion pounds in the property market of the country from the past three months. All this has been possible as these borrowers have been quite interest in paying off their debts on time.

According to the data provided by the Bank of England, this money putting this has happened for the 7th time in a consistent manner in the net housing equity thing. Because of this there has been a huge high in the sum total with the amount going up to 10.2 billion pounds during the spring season of the last year. From the time of the second quarter of the year 2008, the house owners have made a repayment of n amount of 133 billion pounds in the form of mortgage debts.

Just some time ago, the Bank has given a recommendation to the household people which now they are trying to sideline. Although the home owners were paying extra payments so that they can easily get rid of their debts but instead the Bank put forward a claim that there is pointing towards one thing that there was not much activity in the market of housing of the country, mainly because the number of re-mortgage has come down. Get loan approval immediately, just send a simple text and get cash help during the Christmas at http://www.textaloan.org.uk/
Nevertheless, Howard Archer, who is one of the economist at IHS Global Insight, UK voiced that according to the figures which were given by the bank, there were recommendations in today’s hard times, many people have a wish as well as the need that they should make better the balance sheets which are inclusive of a lot of debts as well as also that people are very much concerned and worried about the condition of the jobs and also the economy of the country.

The suggestions have to add that since the rate of interest on the savings is very low, because of this everyone is thinking that it is first best to lower down their debts rather than making any kinds of savings. This will only bring them closer to calling their home, their very own.

Archer also had to say that the figures also make a revelation that apart from just clearing their mortgage debt, people are also clearing their credit card as well as personal debts. Between the year 1997 and 2008, very less number of people have opted for re-mortgage and have cleared off their debts.


Martina Smith is a expert financial adviser, he wrote a article on financial loans services text a loan, instant text loans, SMS loans @ http://www.textaloan.org.uk/sms-loans.html , text loans, payday text loans, visit http://www.textaloan.org.uk/