Wednesday, September 1, 2010
The picture accompanying the article is brilliant.
Net lending totalled just Â£86million during July â€“ a steep fall from Juneâ€™s Â£518million, according to the Bank of England. The number of mortgages approved for buying a home edged ahead slightly to 48,722, well down on the levels of more than 100,000 a month seen in the housing boom. Analyst Andrew Goodwin said: â€˜This morningâ€™s figures provide further confirmation that the housing market is heading for a double dip, with net mortgage lending pretty much flat and the number of mortgage approvals remaining very low.â€™ Net lending, which strips out loans which have been repaid or redeemed, was the second lowest figure since Bank records began in 1993, although there have also been two months when the figure was negative.