Tuesday, September 23, 2008

Finally re-mortgaging and equity withdrawal begins to collapse

Mortgage approvals now 64% lower than August 2007 as re-mortgaging finally begins to retract

In August, net mortgage lending rose only by £2.1 billion; less than half the average rise over the previous six months. The number of approvals for house purchase was again very low and those for remortgaging also fell. Consumer credit rose by £0.4bn in August, slightly above the previous 6 month average of £0.3bn. Personal deposit growth continued to be weak and the annual growth rate declined by 0.7% to 4.0%...

Posted by converted lurker @ 01:00 PM (521 views)
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One thought on “Finally re-mortgaging and equity withdrawal begins to collapse

  • Uncommonadvice says:

    My wage packet proves this headline to be correct (Mortgage Broker, Northants)

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