New home loan approvals fall 57% by volume

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New home loan approvals fall 57% by volume

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11-12-2008, 11:52 PM

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New home loan approvals fall 57% by volume

The Council of Mortgage Lenders (CML) has reported that the temporary rise in the stamp duty threshold, to £175,000, benefited 51% of homebuyers during September.In the same month last year, when the threshold stood at £125,000, only 22% of homebuyers escaped the tax.The CML also notes that in September, the number of mortgages approved for [...]

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