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

The_Fat_el_Hombre

chucky wrote: »

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

What were the monthly figures prior to November 2009?

chucky

Chlamydia wrote: »

What were the monthly figures prior to November 2009?

it was £5.752bn in July 1988

Conrad

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.

My parents live in Harlech North Wales and say eberything did pretty much grind to halt and everyone stayed in:rotfl:

The_Fat_el_Hombre

chucky wrote: »

it was £5.752bn in July 1988

Very clever...

What were the monthly figures for August, September and October 2009?

chucky

nembot wrote: »

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

i like you Nembot but i think you're thinking that it is bear food for a different reason than it really is
because if you look at the numbers and the the non-seasonally adjusted ones you get a better picture.

May-09    5,238    38,470    136,200
Jun-09    6,387    46,136    138,400
Jul-09    6,775    47,709    142,000
Aug-09    5,243    37,927    138,200
Sep-09    6,099    44,421    137,300
Oct-09    6,209    43,716    142,000
Nov-09    5,913    41,567    142,200
Dec-09    4,578    32,440    141,100
Jan-10    3,066    22,061    139,000

you've got the total amount lent to new buyers, number of transactions for new buyers and the average mortgage amount.

the number of approvals are a red herring as the actual average mortgage price has only dropped a couple of % to £139,000. this may or may not be the important piece as the statistics could skew this but it's important nevertheless. Doire don't bother trying you won't understand it.

that could be bear food to the frothers (Graham, Sir Humpy etc) on here but to the more intelligent ones (like you, Macaque and Dopester) it's only one months figures and tyhey don't tell you very much except that it's the slowest month of the year, it's immediately after the end of the stamp duty holiday and the weather wasn't the greatest too. you can't argue they are not contributing factors to the drop in the number of approvals.

next months figures will give you the trend to confirm that it is 'real' bear food or not.

Graham_Devon

Can't believe people are still blaming the snow.

Sure, it might have stopped people looking, but that will effect THIS months mortgage figures. Not the same months.

Why? Simple. They go look at the house, like it, offer, sort out the mortgage. That all takes more than a couple of weeks.

Doubt very much many people saw the house they wanted in the 2nd week of january, offered, accepted, sorted out solicitors AND got the mortgage funds all within a couple of weeks.

Aimlessly blaming the weather sounds like a flippant reaction to me.

nembot

I know Chucky, u 2

To be completely honest, I've also posted myself suggesting we need to see a few more months numbers, before we know where we're heading.

Slow day and all that

Conrad, have you been to Harlech?

Nothing moves there ever

chucky

Graham_Devon wrote: »

Can't believe people are still blaming the snow.

Sure, it might have stopped people looking, but that will effect THIS months mortgage figures. Not the same months.

Why? Simple. They go look at the house, like it, offer, sort out the mortgage. That all takes more than a couple of weeks.

Doubt very much many people saw the house they wanted in the 2nd week of january, offered, accepted, sorted out solicitors AND got the mortgage funds all within a couple of weeks.

Aimlessly blaming the weather sounds like a flippant reaction to me.

so you think the snow had no impact on surveyors who needed to got out and do valuations to finalise a mortgage approval - where is that confused smiley :eek:

Really2

nembot wrote: »

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.

Did I really say that I thought I said I did not make non essential travel when ice and snow was on the roads.

I Will check...

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.

PS I live on the boarder so don't give the whole wales thing. I have an office down south and I know when the snow was bad they had a lot more than us.



Yes I did say that I said non of what you are saying.

It was you saying weather was a poor excuse and it would not stop you.

Graham_Devon

chucky wrote: »

so you think the snow had no impact on surveyors who needed to got out and do valuations to finalise a mortgage approval - where is that confused smiley :eek:

Desperate much?

The snow didn't last the WHOLE of january, you do realise this?

How come it didn't effect them in December or January 2009 though....thats the killer for you Chucky.