Thursday, October 25, 2007

Lending drops 27% since last year

Bank mortgage lending sees slump

There was a slump in fresh mortgage lending by some of the UK's biggest banks last month.

Posted by bloke111 @ 04:09 PM (758 views)
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3 thoughts on “Lending drops 27% since last year

  • Quite a dramatic stat, but the BOE data out next week is more reliable.

    Note how the Beeb has completely changed it’s tune on housing..

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  • Well guys & gals, we’ve had the quietest week on mortgage valuations for years. It’s just as though somebody had turned the tap off.
    Some of our competitors are down on instructions too.

    It may be that our major clients aren’t offering competetive mortgage deals at the moment, but the fact that other firms are quieter than usual does seem to support the article.

    I’ll let you know if the trend persists!

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  • “If the figures are backed up by those from the Bank of England next Monday, it will confirm that the market is slowing rapidly. ”

    Slowing rapidly? I’d say it’s started to go into reverse!

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