Those who can afford to overpay on their mortgage should do so, it is claimed.
Peter Bolton King, chief executive of the National Association of Estate Agents, says this raises the opportunity for people to manage their mortgage payments.
"I don't think there is anything wrong in principle on that, it's not being forced on them, it's an opportunity, they've just got to look at their overall finances," he continues.
Mr Bolton-King says there will be less to be owed when the rates go back up again.
The Bank of England's Monetary Policy Committee voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 per cent on April 9th 2009.
A recent research article by James Tatch, senior statistician at the Council of Mortgage Lenders, suggests that about 900,000 homeowners currently have some degree of negative equity.
Around two-thirds of the predicted 900,000, face only modest shortfalls of less than ten per cent, he suggested.
See Also: Property News (6705)
Date Published: 23 April 2009
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