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BBA mortgage approvals up to 38.2K from 35.2K

24

Comments

  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    no, this isn't mortgage interest - it's mortgage capital repayments...
    they've been reducing the size of their mortgages

    Yes, and they will stop repaying after 2 years. Think we will be back to normal before the clock runs out? I dont...
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mbga9pgf wrote: »
    Yes, and they will stop repaying after 2 years. Think we will be back to normal before the clock runs out? I dont...

    no - all that has been repayed is mortgage interest

    mortgage capital repayments do not come from this scheme...
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    Yes, and what happens then when a home-owner (or more to the point my taxes) stops making interest payments, in the tens of thousands? That's right, they all get repossessed!!!
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mbga9pgf wrote: »
    Yes, and what happens then when a home-owner (or more to the point my taxes) stops making interest payments, in the tens of thousands? That's right, they all get repossessed!!!

    we're talking about different things - i'm talking about capital repayment on a mortgage and the thread is about the BBA approvals not repossessions... :rolleyes:
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    we're talking about different things - i'm talking about capital repayment on a mortgage and the thread is about the BBA approvals not repossessions...

    Ah well, that's all right then, because despite the fact that as I point out, we have a repossession wave as well as a increased tax wave and unemployment wave still to hit, Monthly mortgage approvals have climbed to a level that isn't even half of where they were before the credit crunch. Am I reading this correctly?
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    mbga9pgf wrote: »
    Monthly mortgage approvals have climbed to a level that isn't even half of where they were before the credit crunch. Am I reading this correctly?

    Do they have to be the same as the hight of a boom to be stable?
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Really2 wrote: »
    Do they have to be the same as the hight of a boom to be stable?

    no apparently 45,000 is price neutrality for the current volume of house sales.
    mbga9pgf wrote: »
    Ah well, that's all right then, because despite the fact that as I point out, we have a repossession wave as well as a increased tax wave and unemployment wave still to hit, Monthly mortgage approvals have climbed to a level that isn't even half of where they were before the credit crunch. Am I reading this correctly?

    you're reading it spot on - have you considered that remortgages are extremely low as people are staying on SVR's taking advantage of low mortgage rates and that is lowering the figures even more... :rolleyes:
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    mbga9pgf wrote: »
    Ah well, that's all right then, because despite the fact that as I point out, we have a repossession wave as well as a increased tax wave and unemployment wave still to hit, Monthly mortgage approvals have climbed to a level that isn't even half of where they were before the credit crunch. Am I reading this correctly?

    The HPC.co.uk theory that an unemployment wave will cause a repossession wave is rubbish.

    Those most likely hit by unemployment are in the 16-24 age group or on a low salary, and therefore unlikely to be homeowners anyway.

    For those that lose jobs that are homeowners, there is redundancy pay, mortgage insurance, those with a small/zero mortgage etc

    The impact will not be what your're hoping.
  • headcone
    headcone Posts: 536 Forumite
    mewbie wrote: »
    If I lose my job I'm f*cked.

    Moron.

    Oh if only dreams were wishes!!!
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    mewbie wrote: »
    If I lose my job I'm f*cked.

    Moron.

    And?

    The point is that not everyone who is hit by unemployment will end up repossessed, like some want to believe.
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