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Thursday, 1 July 2010

Mortgage Crunch for Borrowers

There are signs that mortgages are going to be harder to obtain over the next few months, as banks reign in their lending ton conserve cash.

A Bank of England survey shows that banks are planning to reduce the number of home loans they issue over the next few months. One of the MEPC members has warned of the economy being at a tipping point, with a renewal of recession very likely.
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