Pay mortgage now to clear debt

BANKS are encouraging homeowners on cheap variable-rate mortgages to consider clearing their debts more quickly by using spare cash to boost monthly repayments.

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BOOST FOR PROPERTY MARKET

ABOVE: House prices ended 2009 1.1% higher than they started

7th January 2010

HOUSE prices ended 2009 1.1% higher than they started it after the cost of property increased for the sixth month in a row during December.

Halifax reported a 1% gain in property values during the month, leaving the average home costing £169,042.

The increase helped to push annual house price growth into positive territory for the first time since March 2008.

Prices were 1.1% higher than they were a year ago, based on the Halifax measure of comparing average prices during the three months to the end of December with the same period a year earlier.

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