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Debate House Prices
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BBA mortgage approvals up to 38.2K from 35.2K
Comments
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With net lending at its lowest for 9 years. This bull market may be running out of steam.
Enjoy the news.0 -
Thrugelmir wrote: »With net lending at its lowest for 9 years. This bull market may be running out of steam.
Enjoy the news.
you may be right that the bull market may be running out of steam...
why is this net lending low, what makes up these figures?0 -
Still far too low than is needed despite the spring and summer highs now drawing to a close. It'll be a long, cold winter.
It would seem that people don't wish to move/upgrade because they may lose 'their once in a lifetime' trackers.;)'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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 you're hoping.
How simplistic..It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
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you may be right that the bull market may be running out of steam...
why is this net lending low, what makes up these figures?
An assumptive guess as its probably many factors.
Downsizing of property size.
Repayment of mortgage debt while interest rates are low.
STRs returning to the market. Requiring lower if any mortgages as cashed out at peak prices.
An underlying lowering of property prices possibly.
Also approvals don't reflect actual amount spent. You could borrow say £150k (approved for), but only spend £140k.
If many of those on i/o were on repayment mortgages. Then debt should be being discharged not still increasing. A point that we'll need to reach at some point to tip the balance.0 -
yes, you're pretty much right adding remortgages and a larger amount of new buyersThrugelmir wrote: »An underlying lowering of property prices possibly.
can't argue with that - more mortgage approvals for less amount of money it seems. i've got a feeling the stamp duty holiday is playing a part (some bear food there for you)Thrugelmir wrote: »Also approvals don't reflect actual amount spent. You could borrow say £150k (approved for), but only spend £140k.
would this happen very often? not in my opinion, it happens but not always.
also, this would be a good point if we were in Mewing or when equity release was prominent.
but we're not as remortgage volumes are very low...
Thrugelmir wrote: »If many of those on i/o were on repayment mortgages. Then debt should be being discharged not still increasing. A point that we'll need to reach at some point to tip the balance.
so how does this argument stand up to the fact that savings increased by a large amount this month?0 -
yes, you're pretty much right adding remortgages and a larger amount of new buyers
can't argue with that - more mortgage approvals for less amount of money it seems. i've got a feeling the stamp duty holiday is playing a part (some bear food there for you)
would this happen very often? not in my opinion, it happens but not always.
also, this would be a good point if we were in Mewing or when equity release was prominent.
but we're not as remortgage volumes are very low...
so how does this argument stand up to the fact that savings increased by a large amount this month?
Fewer people have taken foreign holidays this summer. This could be giving the UK economy a boost while aiding savings.
Close friends are saving in general. Expectations of job losses, higher taxes etc are making people more wary. There is a real unkown haning over us all at the moment.0
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