UK households post rare net mortgage repayment in July

LONDON, Aug 31 (Reuters) - British households made a rare
net repayment of mortgage lending last month after a record
surge in borrowing in June when home-buyers rushed to take full
advantage of a tax break, Bank of England data showed on
Tuesday.

Net mortgage repayment stood at 1.4 billion pounds ($1.9
billion) in July, only the second time in the past decade that
repayments have been bigger than borrowing.

A Reuters poll of economists had pointed to a net rise of
3.1 billion pounds in mortgage borrowing in July.
($1 = 0.7260 pounds)
(Reporting by William Schomberg, editing by Andy Bruce)