• From The BBC:

    Skipton Building Society says an e-mail telling mortgage brokers it would no longer lend to buyers of one bedroom flats was a “mistaken communication”.
    The e-mail was sent out to brokers early on Tuesday afternoon, causing much surprise amongst those who got it.
    Skipton is the UK’s sixth largest building society, with 85 branches.
    Like many other lenders it will not lend on some newly built city centre flats but said there had been no change to its previous lending policy.
    The e-mail to brokers said: “Please note that at present, we are unable to lend on all 1 bed properties.”
    However Tim Fletcher, a general manager at Skipton, said the message had been wrong, and did not reflect any change in its lending policy.
    “It’s under an investigation as to how that mistake was made,” he said.
    Most lenders, particularly building societies, have severely rationed their mortgage lending since the advent of the credit crunch in the middle of 2007.

    New lending collapsed last year…

    Click to read the full article »

    Posted by Jon @ 4:03 pm

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