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UK mortgage lending slows to weakest pace since 2012 amid new tax

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Property information leaflets at an estate agent's office in London. Mortgage lending grew just £281 million in April, a fraction of the £3.8 billion increase forecast from a Reuters poll of economists.

London

BRITISH mortgage lending slowed to a crawl in April, increasing at the slowest pace since 2012 as a new tax on landlords took effect, while mortgage approvals also dropped, official data showed on Wednesday.

Mortgage lending grew just £281 million (S$558 million) in April, a