Mortgage Lending and Approvals higher in June - BBA

inspector_monkfish

Crash_Over wrote: »

You're confusing 'mortgage lending', which includes re-mortgaging and equity withdrawal, with loans solely for house purchase.

no i'm not...


Net mortgage lending increased to a rise of GBP2.6 billion in June from a gain of GBP2.4 billion the previous month, although it remained below the average rise of the previous six months of GBP3.1 billion.

inspector_monkfish

chucky wrote: »

but 65% more people have bought property than june last year

sure, but when the numbers are this low, we all know how accentuated the percentage figures are

inspector_monkfish

chucky wrote: »

but 65% more people have bought property than june last year

sorry, i edited my post

chucky

inspector_monkfish wrote: »

sure, but when the numbers are this low, we all know how accentuated the percentage figures are

most definitely, not worth getting too excited over these numbers apart from them being another indicator and also showing that things are looking like they are stabilising.

Crash_Over

inspector_monkfish wrote: »

no i'm not...


Net mortgage lending increased to a rise of GBP2.6 billion in June from a gain of GBP2.4 billion the previous month, although it remained below the average rise of the previous six months of GBP3.1 billion.

Yes you are,

Go to the BBA site and look for the release.

See top of page 2 showing dedicated house purchase lending which is up. :rolleyes:

Can't post a link cos I'm a new user.

inspector_monkfish

Crash_Over wrote: »

Yes you are,

Go to the BBA site and look for the release.

See top of page 2 showing dedicated house purchase lending which is up. :rolleyes:

Can't post a link cos I'm a new user.

but i'm talking about Net Mortgage Lending, which is lower than the past 6mths average, by half a billion (prob due to cheaper houses )

chucky

inspector_monkfish wrote: »

but i'm talking about Net Mortgage Lending, which is lower than the past 6mths average, by half a billion (prob due to cheaper houses )

and much less people remortgaging?

Crash_Over

inspector_monkfish wrote: »

but i'm talking about Net Mortgage Lending, which is lower than the past 6mths average, by half a billion (prob due to cheaper houses )

Fair enough, however net lending is based on gross lending minus redemptions, and gross lending includes re-mortgaging and equity release.

So the net lending figure has no bearing on the money lent for house purchase.

June lending for house purchase is £ 4.7Bn as opposed to last months £4.1Bn and a 6 monthly average of £3.4Bn.

Thrugelmir

chucky wrote: »

and much less people remortgaging?

and that with low intrerest rates for many. Capital is being repaid whilst people can afford to so.

In a years time the figures may be more interesting as we'll have an idea of how taxation will affect us all.

chucky

Thrugelmir wrote: »

and that with low intrerest rates for many. Capital is being repaid whilst people can afford to so.

In a years time the figures may be more interesting as we'll have an idea of how taxation will affect us all.

it's a good thing that people take the opportunity to repay their mortgage debt. it will mean that many are in a better position in a years time.