Highest mortgage approvals for two years

mystic_trev

Looks like the Lenders are certainly Lending again!

http://news.bbc.co.uk/1/hi/business/8427843.stm

The number of mortgage approvals for house purchases has reached the same level as two years ago.

There were 44,713 mortgages approved, up 2,161 on the previous month.

chucky

now that is one spring bounce!!!

nearly new keeps on telling us there is no cash left

Graham_Devon

chucky wrote: »

nearly new keeps on telling us there is no cash left

There isn't.

Thats why we have created £200bn.

HAMISH_MCTAVISH

chucky wrote: »

now that is one spring bounce!!!

We'll be into the next spring bounce soon....:eek:

And of course, that is only a partial measure of approvals, the total figure will be closer to 60,000, with transactions at closer to 90,000.

nearly new keeps on telling us there is no cash left

Is that 100% guaranteed?

Has anyone tried claiming on the guarantee for all the other tripe he's spouted that has turned out to be complete b0ll0cks?

chucky

Graham_Devon wrote: »

There isn't.

Thats why we have created £200bn.

i thought that went to restructure balance sheets not to lend to the general public

Graham_Devon

chucky wrote: »

i thought that went to restructure balance sheets not to lend to the general public

:wall:

Aye. They would be lending at todays figures if they still had dire problems with their balance sheets wouldn't they chucky. :rolleyes:

I even had to get the icons out for that drivel you presented.

chucky

Graham_Devon wrote: »

:wall:

Aye. They would be lending at todays figures if they still had dire problems with their balance sheets wouldn't they chucky. :rolleyes:

I even had to get the icons out for that drivel you presented.

oh look Graham has seen a shiny thing...

careful you'll be copy and pasting stuff you don't understand next :rolleyes:

so QE went directly to provide mortgages and wasn't used to re-structure bank balance sheets and improve the velocity of the money supply...

and........ if the money was used for lending... why hasn't commercial lending shot up like residential lending has?

Graham_Devon

chucky wrote: »

you'll be copying and pasting stuff you don't understand next :rolleyes:

so QE went directly to provide mortgages and wasn't used to re-structure bank balance sheets and improve the velocity of the money suppy...

and........ if the money was used for lending... whay hasn't commerical lending shot up like residential lending has?

I kinda feel you are going to spin everything so far that we will end up on page 5 splitting hairs.

For that reason, and the reason that what I said is so darn simple and you are making it into something completely different, I'm out.

chucky

Graham_Devon wrote: »

I kinda feel you are going to spin everything so far that we will end up on page 5 splitting hairs.

For that reason, and the reason that what I said is so darn simple and you are making it into something completely different, I'm out.

apologies Graham but i should have realised that it was pointless in trying to attempt a discussion with you about stuff you don't understand and only read the headlines :rolleyes:

you were obviously unable to reply to the below questions...

chucky wrote: »

so QE went directly to provide mortgages and wasn't used to re-structure bank balance sheets and improve the velocity of the money supply...

and........ if the money was used for lending... why hasn't commercial lending shot up like residential lending has?

stueyhants

QE has been used to generate a nice profit for the banks as they benefit by buying gilts and then selling them back to the BoE.

QE has enabled IR to remain low this year and helped stop the predicted wave of repossessions and thus helping the banks balance sheet by not realising loses.

Comerical property lending has not increased because business don't want to borrow money when they are not confident about the future. The saying "you can take a horse to water ...etc" comes to mind.

My final point about QE is that the governement would have had to go to the IMF without it as it is doubtfull whether they could have raised enough money on the international markets to fund their spending splurge.
(edit for missing words!)

Without QE the UK is looking very shakey, have you looked at the latest benchmark on the 10-year gilt it is 4.02%, the highest it's been all year and increasing. Without further QE it's going to be heading higher.

chucky

stueyhants wrote: »

Comerical property lending has not increased because business don't want to borrow money when they are not confident about the future. The saying "you can take a horse to water ...etc" comes to mind.

i was referring to comercial lending to businesses not related to commercial property.