Mortgage Growth Slows in November
Mortgage lending fell 7.2% over the month, interest rate rises blamed
18th December 2003
November's mortgage lending level fell 7.2% compared to October, according to the Building Societies Association. Total gross lending by building societies amounted to £4.42bn compared to October's £4.77bn.
Commentators attribute this fall to the latest increases in the Bank of England Base Rate.
Year on year growth was still strong though, rising from £3bn in November 2002.
Read More: Building Societies Association
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