Mortgage lending at two-year low
Updated on 18 July 2008
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.
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