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Investing.com -- British lenders anticipate a decrease in mortgage demand over the next three months, according to a Bank of England survey released Thursday.
The quarterly Credit Conditions Survey revealed that the balance of expected secured lending for the upcoming three months dropped to -18.5 in the second quarter from -2.0 in the first quarter.
This marks the weakest reading since the third quarter of 2023.
According to the Bank of England’s interpretation, readings above -5 are considered "unchanged," readings between -5 and -10 indicate a "slight" change, and readings below -10 represent a clear decrease.
The survey results add to indications of weakening sentiment in the housing market following an increase in property transaction taxes that took effect in April.
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