March Mortgage Approvals down 6.8% BBA says

StevieJ

Cannon_Fodder wrote: »

Pundit at the Stock Exchange, interviewed by BBC, said Banks are approving at around the same rate, 75% or so, "as normal".

"Its the activity that is down" - so maybe the Great British public, just like some are being sensible in paying down debt/mortgages, are also being sensible in avoiding taking on huge debt during a recession that could see them lose their job.

Shame the biggest debtors are going to screw up the country before they lose their jobs...

Or perhaps there are not many quality houses for sale I certainly don't see the 'for sale' signs all over the place, have other people noticed lots of houses for sale.

Dan:_4

ad9898 wrote: »

Can anyone see the front page of the Daily Express tomorrow..... 'Mortgage approvals decline as the crash continues', I think it probably won't happen.:rolleyes:

Maybe not the Express, but one of them is likley to run with this.

ad9898_3

Cannon_Fodder wrote: »

are also being sensible in avoiding taking on huge debt during a recession that could see them lose their job.

This is so true, as a FTB'r, I look at my own circumstances and feel the same, I wouldn't buy the detached house I'm looking for at the minute unless I could buy with a 1x salary mortgage or less, it's just too risky to take on large debts at this time.

ad44downey

It's heartening to see normal service resumed in the housing price crash. It didn't take long for those green shoots to be stamped out. :T

ad9898_3

StevieJ wrote: »

Or perhaps there are not many quality houses for sale I certainly don't see the 'for sale' signs all over the place, have other people noticed lots of houses for sale.

Not sure about that, in my small area of about 8sq. miles there are over 200 houses for sale, 20-30 nice detached ones in nice semi rural settings, that fit my criteria perfectly, most have seen 10-15% price falls with little or no interest, so the houses are out there, and are falling in price, and I'm sure my area is not unique. Is that a rather dodgy straw your clutching Steve ?:D

StevieJ

ad9898 wrote: »

Not sure about that, in my small area of about 8sq. miles there are over 200 houses for sale, 20-30 nice detached ones in nice semi rural settings, that fit my criteria perfectly, most have seen 10-15% price falls with little or no interest, so the houses are out there, and are falling in price, and I'm sure my area is not unique. Is that a rather dodgy straw your clutching Steve ?:D

How did I know you were going to say something like that What about other people on the board

ad9898_3

StevieJ wrote: »

How did I know you were going to say something like that What about other people on the board

I do like your style Steve, even though we pretty much disagree on everything, I'd still buy you a pint in the pub.

StevieJ

ad9898 wrote: »

I do like your style Steve, even though we pretty much disagree on everything, I'd still buy you a pint in the pub.

Cheers, likewise :beer:

Dan:_4

ad9898 wrote: »

I do like your style Steve, even though we pretty much disagree on everything, I'd still buy you a pint in the pub.

What!.... you're actually get your wallet out ad?

Cannon_Fodder

Quality homes?

http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E1079&radius=0.0&displayPropertyType=&minBedrooms=&maxBedrooms=&minPrice=&maxPrice=&maxDaysSinceAdded=&retirement=&partBuyPartRent=false&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&oldSecondaryDisplayPropertyType=&newHome=&auction=false&x=62&y=13


Looks like developers have left it a bit late, and are praying to get someone (several someones) from the Rich List who has benefitted from the downturn.