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According to the FT today - Mortgage approvals are slowing down: http://www.ft.com/cms/s/0/8b5277d0-7aa9-11...00779fd2ac.html

Key quotes:

Conditions now appear ripe for the long-awaited slowdown in the housing market following the credit squeeze, according to a new report.

..the reduced appetite for new mortgage lending among banks has come about through a growing recognition that UK house prices are at a peak.

S&P expects funding conditions to improve slowly but said: “Given the fragility of current markets and the possibility of an abrupt end to the housing market’s prolonged boom, we will continue to monitor and assess the conditions for banks carefully.”

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