Tuesday, August 31, 2010

Mortgage lending down amid warnings of second house price crash - Telegraph

House for sale signs: Mortgage approvals rise as property market bounces back

The latest figures from the Bank of England revealed that net lending – which strips out redemptions and repayments – dropped to just £86 million in July, a steep fall from June’s £518 million.

Mortgage lending down amid warnings of second house price crash - Telegraph: "Andrew Goodwin, senior economic adviser to the Ernst & Young ITEM Club, said: “The housing market is heading for a double dip, with net mortgage lending pretty much flat and the number of mortgage approvals remaining very low.
“These figures tend to be well correlated with prices and they point...">>>>>>>>


U.K. Pound Drops Before Mortgage Data; Gilts Advance on Demand for Safety

The pound declined against the dollar before a report economists say will show U.K. lenders approved fewer mortgages last month, adding to evidence the economic recovery will falter.

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EDITOR NOTE: THESE TWO ARTICLES GO TOGETHER - it is appalling that the economic recovery and housing go hand in hand and yet mortgage fraud is allowed to go on without any meaningful reform (my op)

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