Mortgage supply falls to two year low

Banks and building societies have recorded the biggest fall in the availability of mortgages since the financial crisis struck, but expect the situation to improve in the next few months.

After eight consecutive quarters of expansion, the balance of lenders reporting an improvement in the availability of secured credit dropped to -28.5 per cent in the third quarter of the year, the largest negative reading since 2008, according to the Bank of England’s latest credit conditions survey.

 

Source: The Times – 7 October 2014 (Kathryn Hopkins, Property Correspondent)

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