Mortgage lending at record low
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.New mortgage lending fell to a record low in 2010 and advances are expected to drop further during the coming year, figures showed today.
Net lending, which strips out redemptions and repayments, totalled just £8.15 billion during the year, down from £11.33 billion in 2009 and the lowest level since the Bank of England's records began in 1987.
The market finished the year on the back foot, with net lending contracting by £298 million during December, as homeowners repaid more than lenders advanced.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments