Credit Action stats out for Dec

kennyboy66_2

Really2 wrote: »

Not knocking the figures but

Mortgage lending (and lending in general) is at an all time low.
How the hell did the figures go up

Looking at the actual data, month on month, they didn't.

Although secured lending went from 1219bn to 1220bn, which must be people MEWing to get 163 inch plasma TV's, and putting gold flakes on their ice cream.

Jimuth

Sorry to be fick!

Does the unsecured debt include things like car finance or wotnot? Would it also include Student Loans. Would either of the 2 have any bearings at all on the figures? Or are we looking at credit card/personal loans being the monster here.

I'm just trying to get my head around the fact 22K is the AVERAGE. Jeez.

Cannon_Fodder

There is a couple on a thread on DFW with £120K unsecured, so that is 3 or 4 other households' portions...

kennyboy66_2

Dithering_Dad wrote: »

OMG!


My house is worth about £300k. Our combined pensions (mrs Dither n me) are worth £100k, other savings and investments amount to about £30k.

.

Yes, but you house will soon be worth only £50k and with the pound falling, your other investments will be be close to worthless.

You're going to Hell with the rest of the borrowers.

Yours faithfully

The People's Popular Front of Righteous Savers.

WTF?_2

Amazing how simply publishing some hard stats seems to rile the 'anti bear' faction :rolleyes2

Quite enlightening as to their mentality in posting here, really. Why debate when you can simply slag people off for talking about the issues?

Dithering_Dad

A mate of mine is a Consultant Cardiologist earns about £130k per year and, lets face it, is as safe as houses from the recession. In fact, he will probably have more business from people watching the HPC and stockmarkets!

He has a £20k unsecured car loan because some tax fiddle makes it cheaper to fund his car this way rather than from his savings.

Let's just calm down, people.

Bare statistics like these are, pardon the language, bolloxs. Just because people have large loans doesn't mean they are about to go to the wall. It also doesn't mean they are council house tenants who are buying huge plasma tv sets.

kennyboy66_2

Jimuth wrote: »

Sorry to be fick!

Does the unsecured debt include things like car finance or wotnot? Would it also include Student Loans. Would either of the 2 have any bearings at all on the figures? Or are we looking at credit card/personal loans being the monster here.

I'm just trying to get my head around the fact 22K is the AVERAGE. Jeez.

If you get a loan from a normal high street bank or lender and the purpose is to buy a car, then it is unsecured lending.

If it is Hire Purchase or a Finance Lease, then it could be secured lending, as is the dubious "log book loans" lending.

Dithering_Dad

kennyboy66 wrote: »

Yes, but you house will soon be worth only £50k and with the pound falling, your other investments will be be close to worthless.

You're going to Hell with the rest of the borrowers.

Yours faithfully

The People's Popular Front of Righteous Savers.

lol, crap! I didn't think of that! OK, bailiffs, come and get me!! :eek:

!!!!!!? wrote: »

Amazing how simply publishing some hard stats seems to rile the 'anti bear' faction :rolleyes2

Quite enlightening as to their mentality in posting here, really. Why debate when you can simply slag people off for talking about the issues?

Why post on a discussion forum and then complain when people discuss your topic?

Jimuth

Dithering_Dad wrote: »

Bare statistics like these are, pardon the language, bolloxs. Just because people have large loans doesn't mean they are about to go to the wall. It also doesn't mean they are council house tenants who are buying huge plasma tv sets.

As Disraeli said.
Still do you not think the bullets at the end of the OP linky are worrying:

• Consumers will borrow an additional £175m today
• Consumers will pay £262m in interest today
• The average household debt will increase by over £7.20 today

If you're happy about a culture where we're owing £7.20 more a day then that's your choice. I for one applaud !!!!!!'s posts for helping point me in the direction of the detail illustrating this "buy now, pay later" culture which could potentially fall around our ears. :T

kennyboy66_2

!!!!!!? wrote: »

Amazing how simply publishing some hard stats seems to rile the 'anti bear' faction :rolleyes2

Quite enlightening as to their mentality in posting here, really. Why debate when you can simply slag people off for talking about the issues?

Amazing how simply pointing out that;

1) The debt appears to have actually fallen during the month.
2) That credit card lending fell if comparing the same month in previous years.

quicky generates the !!!!!! penchant for putting "smileys" in his posts and claiming that people are "slagging" him off. Where exactly where you "slagged off".

Is you definition of a debate you just lecturing people, while they nod along like the Churchill Dog ?