Mortgages - UK - March 2009
Mortgages - UK - March 2009

House prices have been in decline since around Q3 2007, having fallen by 16% in 2008 according to both the Halifax and Nationwide price indices. This has had major implications on the mortgage market, compounded by the fact that owing to massive losses from US sub-prime investments and bad debts in the UK, banks have little cash to lend. As a result, gross mortgage lending fell by 29% in 2008 ...

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Appendix