lending

A lack of credit is the "single most critical problem" for the economy in the short-term, according to the Treasury Committee.

UK house prices fell 16.2% last year with a drop of 2.2% in December alone, according to Halifax's House Price Index.

Healthy companies will struggle to survive unless the Government takes urgent action to deal with the intensifying credit crunch, the Confederation of British Industry (CBI) has warned.

Bank of Scotland (BoS) is finalising negotiations with the European Investment Bank (EIB) to secure £250m in funding to support its SME customers during difficult trading conditions.

Lending decisions made by individual banks are "infinitely more important" than the fiscal stimulus unveiled by the Government, according to Liberal Democrat Shadow Chancellor, Vince Cable.

Mortgage lending has more than halved over the past twelve months as the effects of the credit crunch and financial crisis hit banks and building societies.

Prime Minister Gordon Brown has hinted he will make reforms to mortgage and small business lending rules.

Nationwide has announced it will close its UCB Homeloans brand in response to the slowing mortgage market.

The Council of Mortgage Lenders (CML) says the Government's plans to provide mortgage lending at 2007 levels may not be 'prudent' given current conditions in the housing market.

Confidence among mortgage intermediaries has improved in recent months, but negative sentiment remains, a survey suggests.