Mortgage equity withdrawal in the UK soared in the first three months of 2005, raising concerns that a resurgent property market may well fuel a consumer spending frenzy. Data from the Bank of England showed today that Britons withdrew some 12.5 bln stg in mortgage equity in the first quarter of 2005 compared with an upwardly revised 12.1 bln stg in the previous quarter. The latest figure is the highest since the second quarter of 2004 and is more in line with the levels seen during the period of rapid property growth in 2003 and most of 2004. The first quarter figure equals 5.8 pct of disposable income, up from 5.7 pct in the last three months of 2005. The rate has been growing steadily since the start of 2005. Mortgage equity withdrawal measures secured borrowing not invested in the housing market.