U.K. Home Prices Fall as Economic Slump Deepens, Nationwide Says

U.K. Home Prices Fall as Economic Slump Deepens, Nationwide Says

Paul Thomas/Bloomberg

Data from the British Bankers’ Association yesterday showed net mortgage lending fell in May for the first time in at least 15 years and approvals for home loans declined. With the economy struggling to recover, the Bank of England and the Treasury will announce within weeks details on a new program to get banks to boost lending.