RICS: BBA September mortgage lending figures

Commentating on today’s BBA (British Bankers' Association) mortgage lending numbers, David Stubbs, senior economist at the RICS said: "The slowdown in the housing market continues to worsen with higher interest rates being the root cause of this slowdown. However, their impact is being magnified by the withdrawal of some mortgage products by Banks and Building societies, as the problems in financial markets persist. The market should to continue to weaken as we approach 2008 and price growth should stall throughout the year."