Mortgage lenders report a fall in approvals

Feb. 21, 2005
Mortgage approvals fell to a six-year low last month, renewing fears of a property slowdown. Figures from the Council of Mortgage Lenders (CML) reveal that loans taken out for home purchases fell 26% to 63,000 compared with December. The number of buy to let landlords unable to meet their mortgage payments also rose in the second half of 2004. CML figures showed that lending on investment properties fell for the first time since records began.

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