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Repayment mortgages more than doubled in the last decade says SEH

Repayment mortgages have more than doubled in the last decade according to a survey conducted by Survey of English Housing, published by the Office of the Deputy Prime Minister.

The survey shows that 64 pe cent of borrowers now have repayment loans while 27 per cent have interest only mortgages.

This is in reaction to endowment shortfalls by British consumers.

SEH data also shows that the number of first time buyers is still decreasing. Four years ago, mroe people under the age of 30 were buying instead of renting. Now 40 per cent of those in this age group rent their home while only 36 per cent are buying with a mortgage.

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