Monday, October 25, 2010
Monday afternoon Bear food
Mortgage lending dived to its lowest level for a decade during September as activity in the housing market remained subdued, figures showed today. Net lending, which strips out redemptions and repayments, was just Â£1.6 billion during the month, well down on the previous month's total of Â£2.5 billion and the lowest figure since October 2000. Lending showed little sign of picking up in the near future, with the number of mortgages approved for house purchase dropping for the fourth consecutive month to hit an 18-month low, the British Bankers' Association said.