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Mortgage borrowers &#39taking more control&#39

Mortgage borrowers are taking more control of their finances, with 43 per cent either remortgaging, renegotiating terms or increasing borrowing, according to a Council of Mortgage Lender survey.

The survey shows 16 per cent of borrowers now have flexible mortgages but only 5 per cent have ever taken a payment holiday.

Only 9 per cent of those questioned said they would be likely to apply for mortgage online. The survey was conducted by MORI between July and September 2000.

CML director general Michael Coogan says: “These results show that borrowers are taking real control of their mortgage decisions, finding ways to make their mortgages work for them.”

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