Summary
MORTGAGE lending looks set to fall to its lowest level for more than three decades during 2011 with first-time buyers particularly hard hit, a trade body warned today.
Net lending, which strips out redemptions and repayments, is expected to total just pounds 6bn next year, down from an estimated pounds 9bn this year and pounds 110bn in 2006, before the credit crunch struck, according to the Council of Mortgage Lenders.See the full content of this document
Extract
Moneymatters
The group said the figure would be the lowest annual total since 1980, when the mortgage market was much smaller, wh...
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