Repayment Of Homeowner Loans On A Rise

Britons are repaying their loans quickly, research conducted by a financial website states.

London February 28, 2007: The number of consumers paying back their homeowner loans is increasing, according to latest research done by a financial website. The conducted research states that more and more people are hurrying up to repay their loans back to get their home mortgage free.

As per the statistical data from mform, there is an astonishing rise of 69.64 percent in the number of mortgage capital repayments between the years 2001 and 2006.

Eammon Rice, chief executive of mform, commented: "These findings are encouraging because although interest repayments are rising, people are increasingly trying to pay off the capital they owe on their homes with the aim of becoming mortgage free as quickly as possible." The fact that six billion Britons have taken mortgage in the last three years validates the growth in the market of homeowner loans. Mr. Rice added by advising borrowers to shop around in the market and hunt for the best deal before they actually avail a homeowner loan.

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