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Massive Drop in Mortgage Lending

Massive Drop in Mortgage Lending

This is a discussion on Massive Drop in Mortgage Lending within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Mortgage lending crashed in August, with advances falling to just 5% of the previous month’s total. Net lending in the ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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09-29-2008, 03:57 PM

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Massive Drop in Mortgage Lending

Mortgage lending crashed in August, with advances falling to just 5% of the previous month’s total. Net lending in the month amounted to only £143 million, the lowest figure ever recorded by the Bank of England’s statistics series which ...

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