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North and Scotland have fastest mortgage areas

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    Britons living in areas of the north of England and in Scotland are closer to paying off their mortgages than those living in other areas, shows new research. Blackburn in Lancashire was found to have the fastest mortgages in the UK, with residents being an average of just eight years and two months away from home ownership.
    The research from the Royal Bank of Scotland (RBS) found notable differences in repayment times between neighbouring towns, with those in Preston having to wait almost 18 years to pay off their mortgage despite being only a few miles away from their Blackburn neighbours.
    Also revealed was a strong aspiration among the nation's mortgage holders to own their homes with 44 per cent saying that paying off the mortgage was the biggest thing they could do to safeguard their future security.
    "Our research shows a strong desire among homeowners to make their homes truly their own and pay off their mortgages as soon as possible," commented Karen Snodgrass, head of RBS offset mortgage.
    "Our Fastest Mortgage League highlights areas across the UK where anyone aiming to pay off their mortgage quickly, can make this dream a reality."
    If you are considering getting a mortgage, you will be credit checked. Order your credit report first and make sure your finances are in order.




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