Mortgage lending at two-year low

The rate at which mortgage lending is falling has accelerated as the credit crunch tightens its stranglehold on the market, figures show.

Banks and building societies advanced a total of just £23.8 billion during June, the lowest level since February 2006, the Council of Mortgage Lenders said.

The figure was also 3% lower than the amount lent in May and 32% down on advances in June 2007.

Share this article

Send this article to a friend »

• Del.icio.us
• Digg
• Reddit
• Facebook
• StumbleUpon

What are these?