Homeowners pay off mortgage rather than save

With interest rates still at 0.5% , it's not surprising that more of us are paying down our mortgages rather than putting money in a savings account where it may lose value in real terms.

Figures from the Bank of England show that in the last three months of 2010, the UK paid £7bn off its mortgage debt, the highest sum since records began in the early seventies.

Homeowner, Matt Smith told the BBC he is doing it because ''it makes more sense to plough money into the house''.

Breakfast's Simon Jack spoke to housing expert Henry Pryor.

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