Mortgage lending up again, rises by 2%

chucky

nollag2006 wrote: »

If anything, the rise in FTBs shows that the best time to buy has probably passed, and that we are back on for continued house price rises.

The crash that never was, has now been replaced by service as usual.

Bye bye bears

these doomster HPCers have little to clutch to at the moment...
interest rates to remain low for quite a while... unemployment not hitting the highs that they wished for... mortgage approvals going up every month = more and more buyers on the market... oh yeah i forgot they're expecting the General Election and the Tories to come to the rescue :rolleyes:

Harry_Powell

Looks like I bought my house at the bottom of the market. Cool.

ruggedtoast

chucky wrote: »

these doomster HPCers have little to clutch to at the moment...
interest rates to remain low for quite a while... unemployment not hitting the highs that they wished for... mortgage approvals going up every month = more and more buyers on the market... oh yeah i forgot they're expecting the General Election and the Tories to come to the rescue :rolleyes:

There are people who thought because they had £10k in the bank and a secure job in a library they were going to clean up when the crash happened.

But they were never being very realistic, and much of their views came from frustration.

I think most hpc people just want affordable houses again - the same as every other generation before them has enjoyed.

Emy1501

CML sees anyone that does not own as a FTB that will include all those who STR etc. Whislt the figure is 2% up on August which of course is the height of holiday season its down on Julys figure

nollag2006

Emy1501 wrote: »

CML sees anyone that does not own as a FTB that will include all those who STR etc. Whislt the figure is 2% up on August which of course is the height of holiday season its down on Julys figure

What???????????????

:cool:

IveSeenTheLight

ruggedtoast wrote: »

There are people who thought because they had £10k in the bank and a secure job in a library they were going to clean up when the crash happened.

But they were never being very realistic, and much of their views came from frustration.

I think most hpc people just want affordable houses again - the same as every other generation before them has enjoyed.

This is the important point - affordability.

It would be quite possible to show that we have very affordable levels at the moment, yet some people may still not be able to afford.

http://www.lloydsbankinggroup.com/media/pdfs/bos/14_04_09_Affordability_Review_Scotland.pdf

Notably, mortgage payments relative to earnings are now below the long-term average of 31% recorded over the past 25 years.

http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp
then click on the Regional Affordability Link

MORTGAGE REPAYMENTS AS A PERCENTAGE OF INCOME
Q3 2009 UK = 30.1%
26 year average = 37.2%

nollag2006

ruggedtoast wrote: »

There are people who thought because they had £10k in the bank and a secure job in a library they were going to clean up when the crash happened.

But they were never being very realistic, and much of their views came from frustration.


I think most hpc people just want affordable houses again - the same as every other generation before them has enjoyed.

:j

That deserved a thanks for sheer amusement value

Indeed many of the HPC / STR brigade were just waiting to feast on the homelessness and misery of others. One only has to look at carolt circling the reposssessions in her area, so that that she can profit from others' misery.

Those bears gambled and most of them lost ! Timing the market was just too much for them, which is why they are now all piling back in.

As for houses being affordable to previous generations, ask your parents or relatives how much easier it was for them with much lower disposable income to cobble a deposit together, to pay double digit interest rates, or to even obtain a mortgage. It is a complete fallacy to believe that things were easier for previous generations.

IveSeenTheLight

Emy1501 wrote: »

CML sees anyone that does not own as a FTB that will include all those who STR etc. Whislt the figure is 2% up on August which of course is the height of holiday season its down on Julys figure

The 2% increase is for overall lending
FTB in August was 19,700
FTB in July was 20,400
So technically FTBers were down 3.5% in the month.
July was +18% on FTB activity from June

Remember these are actual figures, it is not a seasonally adjusted index

Really2

Harry_Powell wrote: »

Looks like I bought my house at the bottom of the market. Cool.

Bottom is discount from peak in my eyes. I would argue the bottom may have been August last year. :)

But until next year is over I am not going to say for sure when the bottom is/was.

Cleaver

nollag2006 wrote: »

Bye bye bears

nollag2006 wrote: »

Those bears gambled and most of them lost !

I'm afraid the use of the words 'bull' and 'bear' as a noun to describe a type of person, or group of people, has been banned:

http://forums.moneysavingexpert.com/showthread.html?t=2070011

Although I authored the thread, it was actually Martin who rang me up and asked me to do so.

Martin: "Cleaver, can you stop all this bull and bear cr*p?"
Cleaver: "Maybe. What's it worth?"
Martin: "I'll give you 3 for 1 pizzas, not just 2 for 1. I know a guy that sorts that type of thing."
Cleaver: "Sounds interesting."

So, yeah. All happened from there really.

Would you be okay to go back and edit your posts? Otherwise we will get the mammal police on to you. And you wouldn't want that.