Monday, January 7, 2008

Cost of home loan highest in seven years

By Edmund Conway, Harry Wallop and Robert Winnett Last Updated: 12:40pm GMT 07/01/2008

The cost of the typical home loan has soared to a seven-year high with families facing mortgage bills more than 20 per cent higher than two years ago as the effects of the credit crunch take their toll.
Bank of England figures show that the typical homeowner is paying £135 more a month for their mortgage than last year, prompting fears of a rise in home repossessions as people struggle to pay debts.

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