Homeowners Need Protection Against House-Price Boom and Bust - Cable
12.00.00am GMT Thu 29th Jan 2004
Commenting on this morning's figures on lending to individuals showing the number of approvals for house purchase up 16% on the year Vince Cable MP, Liberal Democrat Shadow Chancellor, said: "Credit card lending may be cooling down, but lending for housing continues to be high."
"Large numbers of people are gambling on the house price boom, a gamble they may regret if interest rates cause house prices to fall."
"It is time for the Government to take action to protect ordinary homeowners against irresponsible lending."
Ends
Notes to editors
1. Today's Bank of England 'Lending to individuals' figures showed the number of approvals for house purchase in December 2003 up 16% on 2002 and the value up 24%.
2. Total lending in December was the fourth highest figure on record, only beaten by September - November 2003.
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Wed 12th May 2004:
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Tue 4th May 2004:
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Thu 29th Apr 2004:
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Mon 19th Apr 2004:
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Mon 5th Apr 2004:
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Thu 25th Mar 2004:
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Thu 26th Feb 2004:
[HOUSE PRICE HIGH CALLS FOR CAUTIOUS MEASURES - CABLE]
Wed 4th Feb 2004:
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Wed 28th Jan 2004:
[Bank Lending Continues To Fuel House Price Bubble - Cable]
Thu 24th Apr 2003:
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