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Redrow squees yearly pr ofits slump
it is our view that there may be no meaningful increase in the availability of finance in the wider mortgage market before 2010, he said .
redrow cut the avalue of its land bank by Â260m and warned that the squeeze on mortgages could conditinue until 2010 .
the firm's chairman, alan wker, called on the government to act to boost the availability of mortgages to try to stimulate the housing market .
uk housebuilder redrow saw its annual profits almost halve as it battled unprecedented market conditions .
Generated 2008-9-11_7:45
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