Mortgage lenders plan lending freeze - papers 21 January

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A number of mortgage lenders are planning to put a cap on lending to buy property in certain post-cod...

A number of mortgage lenders are planning to put a cap on lending to buy property in certain post-code areas in a bid to stop spiraling house prices The Times reports today. The move is to be discussed by the Council of Mortgage Lenders (CML) at a meeting today, the paper says, after Alliance & Leicester and Natwest decided to put in place the new limits. Most lenders have already moved to increase the size of the average deposit to 10% from 5% on new loans during the course of the past year. The new limits would, however, be more draconian, possibly limiting access to mortgag...

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