Further signs of a cooling housing market have emerged
with two separate reports showing a slump in mortgage lending. Nationwide said
gross mortgage lending had fallen by £900million as Britain's biggest building society
released its latest set of financial results. It lent £13.1billion in the six
months to 30 September 2014, down from £14billion in the period before and it
now accounts for 12.2 per cent of the mortgage market, compared to 15.4 per
cent previously. Net lending was also £2billion lower at £3.6billion. At the
same time, the British Bankers' Association said mortgage approvals for house
purchases fell for a fourth month in a row to a 17-month low of 37,076 in
October. Read more on the Daily Mail website.
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