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U.K. Mortgage Report sees a shortage of mortgage finance into 2010
A report commissioned by Alistair Darling, chancellor, from Sir James Crosby, former chairman of HBOS, the bank, said there was no silver bullet that would revive the wholesale mortgage market, reduce borrowing costs and take the pressure off the housing market.
U.K. Mortgage Approvals Decline to Lowest Level Since 1999
Banks and Building Societies granted 36,000 loans for house purchase, compared with 41,000 in May, the Bank of England said in London today. The result was the lowest since comparable data began nine years ago. House prices fell by the most in at least seven years in July, pushing the economy closer to a recession.
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Mortgage costs continue to fallFinancialAdvice.co.ukThe Council of Mortgage Lenders (CML) has today confirmed that the cost of UK mortgages has fallen to a five-year low. The percentage of income required to ...and more » |
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