Official figures show evidence of slowdown

There was further evidence this morning that Britain's appetite for and access to credit is easing.

Figures from the Bank of England showed net lending to individuals slowed in November, increasing by £8.9 billion, which is below the six-month average.

The 12-month growth rate fell to 10.2 per cent, while the three-month annualised growth rate was down to 8.9 per cent.

The figures also showed that while lending for house purchases dipped, remortgaging was up, suggesting homeowners are trying to get their repayments down.

The liquidity squeeze has seen a number of lenders tighten their terms and increase their arrangement fees making cheap mortgages harder to come by.

January 08^th 2008

• Slowing down in mortgage market
• Homeowners urged to check utility bills
• Credit crunch worries begin to bite
• Save toward your home insurance, cut up your store cards
• Festive hangover lasts until next Christmas
• Borrowing regarded as a normal part of lifestyle
• The bank of Mum