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UK mortgage lenders' profit growth faltering

Potential homebuyers are pulling back before next year's elections, regulators have tightened financing

Published Wed, Nov 26, 2014 · 09:50 PM

London

BRITAIN'S biggest mortgage lenders face faltering earnings growth as potential homebuyers pull back before next year's general election, regulators tighten financing and the economy slows.

Nationwide Building Society, the UK's third-largest mortgage lender, on Tuesday reported a 36 per cent slump in home loans in the six months through September, an indicator that other banks may encounter a similar slowdown. Lloyds Banking Group plc, the country's largest mortgage provider, this month had its shares rating cut twice in less than a week and faces the greatest risk to its earnings' growth, according to analysts.

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