A survey finding by Bank of England has found that British homeowners are comfortable paying household debts. Growing job markets, rising real estate prices and low interest rates have been the reasons behind this.

Majority of borrowers are house owners and the growing equity of their houses has made repayment easier for them. Because of low interest and high housing prices, homeowners have remortgaged to consolidate their debts and to get a low interest deal. According to the survey 11% of mortgage holders had taken out an additional mortgage in the last twelve months.

In comparison people living in rented accommodations have found their going tough because of high housing prices. The other reasons may be the lack of security in terms of home equity to tackle short term financial pressures.

Experts have warned that a change in economic scenario could pose a serious threat to the economic stability of the country and its citizens.

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