UK mortgage lenders' profit growth faltering
Potential homebuyers are pulling back before next year's elections, regulators have tightened financing
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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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