Mortgage Figure Hits a Nine Year Low
Figures indicated that the mortgage lending rose at its slowest rate for nine years last month as housing market activity remained subdued. The British Bankers’ Association said that net lending, which strips out redemption and repayments, was £1.83 billion for April, the lowest increase ever since February 2001.
Economists speculated that the figure may signal the housing market recovery has run out of steam.
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