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Updated Thursday, December 4, 2008 10:43 am TWN, Reuters

UK mortgages chief sees 2009 lending down 2007

LONDON -- UK mortgage lending in 2009 will remain below 2007 levels, despite government pressure on banks to match last year’s lending volumes, the head of Britain’s mortgage industry association said on Tuesday. Michael Coogan, Director General of the Council of Mortgage Lenders, told the CML’s annual conference that a scarcity of bank funding and tighter consumer credit conditions would continue to weigh on loan growth next year.

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