http://news.bbc.co.uk/1/hi/business/7719158.stm
Britain's biggest building society, the Nationwide, has slashed mortgage lending and says it expects house prices to continue to fall in 2009/10.
Nationwide said it expected the housing market to remain "subdued", with prices continuing to fall in 2009/10.
Nationwide said its net residential mortgage lending during the period was £1bn, down from £3.6bn in the same period last year after it cut back on its lending.
So the bottom is several years away then?
I'll resist those inner city bedsits with 10% off that the developers are trying to shift at the moment.
Britain's biggest building society, the Nationwide, has slashed mortgage lending and says it expects house prices to continue to fall in 2009/10.
Nationwide said it expected the housing market to remain "subdued", with prices continuing to fall in 2009/10.
Nationwide said its net residential mortgage lending during the period was £1bn, down from £3.6bn in the same period last year after it cut back on its lending.
So the bottom is several years away then?
I'll resist those inner city bedsits with 10% off that the developers are trying to shift at the moment.
Comment