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Banks see mortgage lending fall by £680m

The major British banking groups saw gross mortgage lending fall by £680m to £5,072m in August.


Seasonally adjusted net lending fell by £242m to £851m. There were 84,289 new loans approved for purchase or remortgaging.


British Bankers&#39 Association director general Tim Sweeney says: &#34The major banks&#39 loan approvals returned to more normal levels in August after the record figures seen the previous couple of months. The slowing economy and job uncertainty are suppressing demand.&#34


The figures exclude building societies.

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