Mortgage Lending Down
Published / Last Updated on 09/10/2009
by Ashley Clark, Director
The Council of Mortgage Lenders has released figures from the major lenders that the total number of mortgages completed in August fell from 56,000 in July to 53,000.
These figures are still way above the same period last year but do not support any theory of a short term economic recovery.
We expect the winter of 2009/10 to be a tough one in the housing market, as bigger deposits will still be required to secure mortgages.
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