{"id":300836,"date":"2011-03-11T10:14:34","date_gmt":"2011-03-11T10:14:34","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/11\/sudden-slump-in-mortgage-lending\/"},"modified":"2011-03-11T10:14:34","modified_gmt":"2011-03-11T10:14:34","slug":"sudden-slump-in-mortgage-lending","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/11\/sudden-slump-in-mortgage-lending\/","title":{"rendered":"Sudden slump in mortgage lending"},"content":{"rendered":"<p><div readability=\"45.6829875519\">\n        \t\t  <span><br \/>\n    <span>11 March 2011<\/span><br \/>\n<span>Last updated at <\/span><span>05:14 ET<\/span><br \/>\n<\/span><\/p>\n<p>The number of new mortgages lent to house buyers slumped by 29% in January compared to December, the Council of Mortgage Lenders (CML) said.<\/p>\n<p>At just 28,500 the figure was also 12% lower than in January last year.<\/p>\n<p>The CML said the fall was larger than expected at the time of year and due to an &#8220;unusual combination of factors&#8221;.<\/p>\n<p>The figures suggest the property market may be heading for a new downturn in activity due to mortgage rationing and the uncertain state of the economy.<\/p>\n<p>&#8220;With the effects of last year&#8217;s government spending cuts beginning to bite, and rising inflation and tax measures putting pressure on household budgets, potential house-buyers are likely to have been discouraged,&#8221; the CML said. <\/p>\n<p>&#8220;This, coupled with December&#8217;s extreme winter weather, and uncertainty over future interest rate rises, has led to a lack of movement in the mortgage market.&#8221;<\/p>\n<\/p><\/div>\n<\/p>\n<p>See the rest here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12710836\" title=\"Sudden slump in mortgage lending\" rel=\"noopener noreferrer\">Sudden slump in mortgage lending<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 11 March 2011 Last updated at 05:14 ET The number of new mortgages lent to house buyers slumped by 29% in January compared to December, the Council of Mortgage Lenders (CML) said. At just 28,500 the figure was also 12% lower than in January last year. The CML said the fall was larger than expected at the time of year and due to an &#8220;unusual combination of factors&#8221;. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-300836","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sudden slump in mortgage lending - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/11\/sudden-slump-in-mortgage-lending\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Sudden slump in mortgage lending - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"11 March 2011 Last updated at 05:14 ET The number of new mortgages lent to house buyers slumped by 29% in January compared to December, the Council of Mortgage Lenders (CML) said. 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At just 28,500 the figure was also 12% lower than in January last year. 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