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Shares in UK housebuilders fell sharply after the Bank of England said it would scale back its Funding of Lending Scheme. Shares in Britain's housebuilders fell sharply on Thursday after the Bank of England unexpectedly scaled back a scheme to boost mortgage lending. The central bank said it would refocus the Funding for Lending scheme on loans to small firms in the face of rising house price inflation. The news had an immediate impact on shares in the housebuilding sector, with Barratt Developments, Britain's biggest housebuilder by volume, tumbling 9.6pc, Taylor Wimpey dropping 7.8pc and Persimmon falling 6.3pc. The whole housebuilding sector was dragged down by the surprise announcement with Berkeley Group, Crest Nicholson, Redrow, Countrywide, Galliford Try, and Bellway all losing ground. More: http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/10480460/Housebuilders-shares-tumble-after-BoE-scales-back-lending-scheme.html