Homeowners pay off another £8.6bn

Britons reduced their mortgage debt by £8.6 billion in the last three months of 2012 as housing market activity remained subdued by historic standards, a Bank of England report has found.

There has been a general trend towards injections of housing equity since the start of the financial crisis as the flow of lending remains weaker than the amounts of money being ploughed back.%VIRTUAL-SkimlinksPromo%