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U.K. Mortgage Lending May Decline by a Third in 2011 as Weakness Persists

By Implode-Explode Heavy Industries

"Net mortgage lending will drop to 6 billion pounds ($9.5 billion) in 2011, the London-based lobby group said in an e- mailed statement today. That compares with an estimated 9 billion pounds this year and a total of 40 billion pounds in 2008. The number of housing transactions will slip by 30,000 to 860,000, the CML said."

Full post as published by Mortgage Lender Implode-o-Meter on December 15, 2010 (boomark / email).