Lending Famine Spurs Fresh Pound Plunge ; Economy

Summary

---

STERLING tumbled towards new 23-year -lows today as yet another set of awful data from the banks highlighted the state of Britain's mortgage and commercial lending markets.

The amount of money lent in mortgages by the main High Street banks fell 23% in 2008 in spite of the fact that many smaller specialists and foreign rival lenders had quit the market. In December alone, mortgage lending was down nearly 40% on the year.

See the full content of this document

Extract

---

Lending Famine Spurs Fresh Pound Plunge ; Economy

Put alongside the fact that other lenders outside the British Bankers Association shrank...

See the full content of this document

---