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The Independent UK
The Independent UK
Business
Vicky Shaw

Decade-low mortgage growth forecast amid high mortgage costs and sluggish demand

EY Dan Cooper United Kingdom Interest Rates the EY Item Club
PA Archive

UK mortgage lending is expected to record decade-low growth in 2023 and 2024, an economic forecaster is predicting.

Overall, mortgage loans in 2023 are expected to rise just 1.5% net and 2% net in 2024, representing the lowest growth over a two-year period in a decade, according to the  EY ITEM Club Outlook for Financial Services.

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