Growth in mortgage lending is set to fall this year to its lowest level in more than a decade.
According to the EY Item Club, a leading forecasting body, home loans will grow by only 0.4%, the lowest rate since 2011.
The trend in mortgages is expected to be part of a wider tightening in which bank loans to businesses will fall by 3.8%, before returning to growth of 0.9% next year. Net lending by banks to businesses grew by 3.7% in 2022.
