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Evening Standard
Evening Standard
Business
Jonathan Prynn

Mortgage borrowing slumps by more than £1 billion as the fallout from the mini-Budget drags on

Budget Mini

Mortgage approvals for house purchases dropped by more than 10,000 from November to December

(Picture: Daniel Lynch)

Mortgage borrowing slumped by a quarter last month as the after effects of the disastrous mini-Budget in September continued to spook the housing market through to the end of year.

Latest Bank of England figures show net mortgage borrowing down 25 per cent from £4.3 billion in November to £3.2 billion in December.

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