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Many mortgage holders plan overpayments
26.08.2008
More than one in ten mortgage holders are planning overpayments, according to research.
A study by the Abbey states 12 per cent of those questioned were planning overpayments within the next six months.
The figures claim despite the credit crunch, mortgage repayments remain a key concern for homeowners.
Phil Cliff, director of Abbey Mortgages, said: "It is great to see that people are quite rightly prioritising their payments ahead of other financial commitments."
Of those questioned, three per cent were thinking about taking a break in payments, while one per cent were considering saving money by making an underpayment.
The research also stated ten per cent of holders will be looking to change their policy within the next six months.
Meanwhile, there has been a drop in the amount of mortgages approved, the Daily Telegraph reports.
The newspaper states the value of money lent for house purchases is at a ten-year low, £3.2 billion, according to figures released this week.
A study by the Abbey states 12 per cent of those questioned were planning overpayments within the next six months.
The figures claim despite the credit crunch, mortgage repayments remain a key concern for homeowners.
Phil Cliff, director of Abbey Mortgages, said: "It is great to see that people are quite rightly prioritising their payments ahead of other financial commitments."
Of those questioned, three per cent were thinking about taking a break in payments, while one per cent were considering saving money by making an underpayment.
The research also stated ten per cent of holders will be looking to change their policy within the next six months.
Meanwhile, there has been a drop in the amount of mortgages approved, the Daily Telegraph reports.
The newspaper states the value of money lent for house purchases is at a ten-year low, £3.2 billion, according to figures released this week.