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British lenders expect biggest mortgage lending cutback since 2008: BoE

British lenders expect to scale back mortgage lending over the next three months by greatest extent since late 2008, at the nadir of the global financial crisis, according to a survey by the Bank of England (BoE) released on Thursday.

The BoE’s quarterly Credit Conditions Survey also showed lenders predict consumers’ demand for unsecured lending to fall by the most since late 2011.

Lenders also expect to restrict the availability of loans to businesses over the next three months by the greatest extent since early 2012, the BoE said.

Source: Reuters

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