Mortgage fall heralds cooling market

Mortgage lending has dipped from record levels in the latest sign that Britain's housing boom is fizzling out.

The British Bankers' Association said mortgage lending by high street banks rose by £4.1 billion in June. This was well down on May's record £5.2 billion rise and more in line with the rises seen at the start of the year.

The Building Societies Association and Council of Mortgage Lenders also reported a decline.