Mortgage demand falls as market uncertainty deters house buyers - Business News, Business - The Independent
Demand for mortgages from people buying a home fell sharply during the fourth quarter as the lending drought continued, according to the Bank of England.
About two-fifths of banks and building societies said borrowing for house purchase "fell markedly" during the final three months of the year, with demand dropping at its fastest rate since the third quarter of 2008. A combination of falling house prices and economic uncertainty caused by Government spending cuts caused people to delay decisions to move, and these factors are expected to continue to contribute to subdued lending.
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