This is a quote from the book "Chancellor Alistair Darling on brink of second bailout for banks" by The Times
...ry was especially vulnerable: “Without access to credit or loan guarantees on commercial terms, this vital part of the economy will incur lasting damage.”

The scale of the lending drought was hi ghlighted as separate Bank figures showed that the number of new home loans approved plunged to a record low in November. Only 27,000 mortgages for house purchase were approved by banks and building s ocieties, down from a revised 31,000 in October. It is the lowest level since the Bank began collecting data in 1999. The Bank’s quarterly credit conditions survey showed that banks restricted access ...

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