U.S. billionaire and philanthropist Warren Buffett sang and played the ukulele as he appeared in a video broadcast on Chinas state-run television Sunday to mark the Chinese Lunar New Year. He showed on Chinese television, CCTV, and wished the people of China a happy new year. The Lunar New Year of the Dragon begins at midnight on Sunday. Your country has accomplished amazing things, and the best is yet to come, Buffett told the broadcaster.
According to the Woolwich, monthly mortgage debt repayments fell by 20% last year – from an average of 607 in December 2008 to 497 in December 2009, the Telegraph reports.
Following reductions in the Bank of England`s base rate, homeowners spent just 157 of every 1,000 of their take-home pay on their mortgage debt in December – 39 lower than a year earlier.
Figures revealed that homeowners in London recorded the largest reduction in the average proportion of their take-home pay that they were using to service their mortgage debt. It fell by 23%, while homeowners in the North East saw the smallest reduction, of just 15.5%.
Head of mortgages at Woolwich, Andy Gray, said: “For the 11 million UK households who have a mortgage there is a silver lining to the recession – a substantial reduction in mortgage payments right when they need it most.
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