The year 2009 continues to haunt the UK economy on all parameters. The exports are dwindling, jobless rate is shooting up every month, and now the mortgage loan disbursements by banks and lenders have dropped by 48% in the month of June 2009.
The sharp drop looks slightly better on a month on month basis comparison with May 2009. The UK government is still hopeful of a steady and sharp recovery in the mortgage loan disbursements in the coming months, which is primary to the economic recovery.
UK mortgage loan drops by 48% in June 2009