Low interest rates and reduced levels of property transactions led to borrowers repaying a record net £9.1billion of mortgage debt during the second quarter of the year, the Bank of England has reported.
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Changes are in store for the way reverse mortgages are processed that might make it more difficult for some borrowers to qualify.
There are a variety of types of debt. There are good debts and bad debts. It is important to understand debt and use borrowing strategically, so that you do not end up with a debt problem.
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