Gross mortgage lending by the UK’s leading High Street banks stood at a mere £7.6 billion in October, with the total at its lowest since February 2001 and having fallen 16.1% over the last 12 months.
Latest figures from the British Bankers’ Association (BBA) also show net mortgage lending (gross lending with repayments and redemptions stripped out) at £1.7 billion, up from £1.5 billion in September but below on the prior six month average of £1.9 billion.
via homemove.co.uk
So, we're coming up to Christmas, what does this tell us?
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