Mortgage Lending at a Fraction of Last Year
Figures released from the Bank of England show that new mortgage lending collpased in August. Just £143m was lent in August, which is just 5% of the July figure and just 2% of the figure August 2007.The figures also show that just 32,000 new mortgages were granted in August, a new record low and 70% fewer than in August 2007.
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