Financial Times FT.com

UK plc battens down the refinancing hatches

By Brooke Masters, Sarah O'Connor, Stanley Pignal and Daniel Thomas

Published: November 6 2008 02:00 | Last updated: November 6 2008 02:00

The credit crunch continued to beset the construction industry yesterday as problems in obtaining loans affected builders and their clients.

The lack of mortgage availability, local authority money stranded in Icelandic banks and other effects of the credit crunch mean the industry is being forced to take radical measures in a world without easy credit.

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