Wednesday, August 20, 2008

More bear porn

Mortgage lending slump continues

"House sales have dropped by 50% this year and will probably fall further.. The bulk of mortgage lending this year has been to people who are not, in fact, moving house. only 29% of mortgage lending has been to house buyers... The rest has been to people staying put but moving to new mortgage deals, such as former customers of the Northern Rock, or to people borrowing extra sums against the value of their homes"

Posted by mark wadsworth @ 12:35 PM (2963 views)
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