This is a quote from the book "Chancellor Alistair Darling on brink of second bailout for banks" by The Times
...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 to loans of all kinds by companies and consumers in the past quarter, and that they plan to tighten the screws more in this quarter.

Halifax reported that the price of the average house fell by ...

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