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Mortgage lending slumps 44% year-on-year

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  • Mortgage lending slumps 44% year-on-year

    Figures released from the Council of Mortgage Lenders (CML) have revealed that mortgage lending in May was down 44% year-on-year.Furthermore, homeowners opted not to re-mortgage due to soaring arrangement fees. Statistics showed that there were only 71,000 loans for re-mortgage in May this year, down 14% from the previous month.In 2003, the average arrangement fee [...]

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