Mortgage loan total 'fell sharply' in January (BBC)

Really2

nembot wrote: »

Snow would not put me off buying a new house, worst excuse so far...

So you would Risk trashing your car and getting killed in an accident to buy a house.

Fair play, I cut all unnecessary travel out when there is snow and ice on the roads.

chucky

Emy1501 wrote: »

Unless I'm missing something there was no real spike in December. Nov was about 45K and Dec was not that much more. If there had been a big spike in Decembers figure then could understand people comments about these figures being expected. Next months figures will be interesting though.

actually there was a spike in the amount lent

Nov 2009 £8.997bn
Dec 2009 £10.058bn
Jan 2010 £6.782bn

Really2

Generali wrote: »

If the weather in the UK has been nearly as bad as it appears from Sunny Australia(TM) then I'd imagine that the predictive powers of January's economic data are likely to be weak at best.

I even promise not to say, "I told you so" if/when M4 for Jan is YoY negative for the household sector. Well I'll try not to do it.

I can honestly say I have been for more walks in the snow than I have in the sun this winter.

I can't remember such a persistent cold spell, I would say I have scraped snow of my car more times than I have scraped ice off since the start of the year.

In reality we have had over 60 days of proper winter now.

Conrad

nembot wrote: »

Snow would not put me off buying a new house, worst excuse so far...

It certainly did throw many peoples lives into a little dissaray. I was stuck at home a week in all. The last thing on most peoples mind was moving home. It was all about trying to get to work, entertain the kids and throwing snowballs.

ruggedtoast

Recovery over - bulls in despair.

Mooo.

Moooooo!

MOOOOOOO!!

The recovery of the housing market has appeared to become derailed, after figures indicated mortgage lending has hit an eight-year low.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/7298115/Mortgage-lending-hits-8-year-low.html

Rinoa

ruggedtoast wrote: »

Recovery over - bulls in despair.

Mooo.

Moooooo!

MOOOOOOO!!

The recovery of the housing market has appeared to become derailed, after figures indicated mortgage lending has hit an eight-year low.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/7298115/Mortgage-lending-hits-8-year-low.html

Desperate bear quotes incompetent journo.

Sir_Humphrey

I don't recall a big drop in mortgage approvals after the snow chaos of February 2009.

abaxas

Sir_Humphrey wrote: »

I don't recall a big drop in mortgage approvals after the snow chaos of February 2009.

Also wasnt the winter of 2001 bad too?

I was working in Glasgow and I couldnt get there for 2 weeks due to snow.

nembot

Really2 wrote: »

So you would Risk trashing your car and getting killed in an accident to buy a house.

Fair play, I cut all unnecessary travel out when there is snow and ice on the roads.

To be fair Really, that's like saying everyone who bought in Jan, saw the place they wanted, made an offer and completed in two weeks.

The vast majority of sales take a number of months to complete, so these sales in Jan probably started in Oct/Nov 2009.

Admittedly there was some snow and I imagine some EA & Solicitors couldn't get to the office for a few days, maybe a week at max (in the more rural areas).

But it's hardly justification for the numbers is it?



Living in North Wales so I see a fair amount of snow - maybe it's an English culture thing though, because the Welsh don't stop when there's snow on the ground.

Sir_Humphrey

nembot wrote: »

Living in North Wales so I see a fair amount of snow - maybe it's an English culture thing though, because the Welsh don't stop when there's snow on the ground.

Actually, it is soft nesh southern jessie English thing.