Mortgage approvals hit 20-month low; Lending lowest in 10yrs

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Mortgage approvals reached their lowest level for 20 months in November, while net mortgage lending dropped to the lowest in over a decade, British Bankers' Association (BBA) figures suggest.

Net mortgage lending fell to a ten-year low of £1.464bn in November, down from £3.4bn for the same month of 2009, and the lowest figure since October 2000. Home-owners instead looked to borrow against...

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