Halifax name 'mortgage freedom day'

Press Association
File photo dated 05/01/14 of houses in Derbyshire as house sellers are achieving 96.2% of their asking price typically, marking the highest proportion seen in a decade as buyers chase a scarce supply of homes, property analyst Hometrack has found. PRESS ASSOCIATION Photo. Issue date: Monday March 31, 2014. In London, sellers are getting around 99.3% of their asking price and across every region the figure is above 93%, pointing to further price rises, the report for the month of March said. Across England and Wales, the length of time properties are typically spending on the market before being snapped up has dropped to just under eight weeks for the first time since 2007, while homes in London are taking just over two and a half weeks on average to sell. House prices increased by 0.6% month-on-month in March, which is slightly down on a 0.7% rise in February, although for the second month in a row half of postcodes across the country reported rising property values. Prices rose by 0.2% in Yorkshire and Humberside and the North West, by 0.3% in the West Midlands and the North East, by 0.4% in the East Midlands, by 0.6% in Wales, by 0.7% in the South East and London and by 0.8% in the South West and East Anglia. See PA story MONEY House. Photo credit should read: Rui Vieira/PA Wire
File photo dated 05/01/14 of houses in Derbyshire as house sellers are achieving 96.2% of their asking price typically, marking the highest proportion seen in a decade as buyers chase a scarce supply of homes, property analyst Hometrack has found. PRESS ASSOCIATION Photo. Issue date: Monday March 31, 2014. In London, sellers are getting around 99.3% of their asking price and across every region the figure is above 93%, pointing to further price rises, the report for the month of March said. Across England and Wales, the length of time properties are typically spending on the market before being snapped up has dropped to just under eight weeks for the first time since 2007, while homes in London are taking just over two and a half weeks on average to sell. House prices increased by 0.6% month-on-month in March, which is slightly down on a 0.7% rise in February, although for the second month in a row half of postcodes across the country reported rising property values. Prices rose by 0.2% in Yorkshire and Humberside and the North West, by 0.3% in the West Midlands and the North East, by 0.4% in the East Midlands, by 0.6% in Wales, by 0.7% in the South East and London and by 0.8% in the South West and East Anglia. See PA story MONEY House. Photo credit should read: Rui Vieira/PA Wire

%VIRTUAL-SkimlinksPromo%Home owners have typically earned enough cash by today to cover their mortgage payments for the whole of 2014, a report has found.

Halifax declared April 10 as "mortgage freedom day" - meaning that on average if someone living in the UK put every penny they had earned since the start of the year towards their mortgage, from the 100th day of 2014 they would be mortgage-free for the rest of the year.