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Happy New Yeaar
The glad tidings of the welcoming in of 2010 were soon deflated with the news from the Building Societies Association (BSA) that they expect lending activity to remain relatively depressed in 2010.
The BSA released figures this week to show that mortgages approved by building societies in November 2009 totalled £1.2bn, compared to £2.1bn in November 2008.
Commenting on the figures, Tony Rice of Bedfordshire-based specialist mortgage and insurance brokers TMP Mortgage Zone, said: "Lending won't get back to the levels of 2008 without an improvement in funding and supply conditions. The pressure on banks acts as a brake on their ability to lend and there are still a relatively small number of properties coming on to the market."
[ 07-01-2010 ]
