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Mortgage slowdown shows cooling of UK property
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Published by FastFT on Monday, 10 November 2014
There are further signs of how conditions are cooling in the UK property market.
Council of Mortgage Lenders data show lending to home buyers decreased 7 per cent month-on-month in September to 58,600 loans. The value of these loans also fell 8 per cent month-on-month to £10bn.
However, conditions are still pretty robust if you compare them with last year. The number of loans in September was 13 per cent above the level for the same month in 2013, while the value of lending was up 20 per cent.
