Lack of lending hurting retailers

The lack of mortgage lending to first time buyers is not only hurting the housing market, but also retailers selling tools, homewares, and furniture, data revealed today. Boosting lending would have a knock-on effect on these markets, the data released jointly by Genworth, the British Retail Consortium and KPMG showed. “A lack of lending leads to a lack of productive spending,” said Genworth boss Angel Mas.