MSE News: Large dip in mortgage lending

de1amo

doesnt january always follow xmas and involve winter weather-i am sure these figures relate somehow on a seasonal adjustment-otherwise they are daft!!

Dan_1976

Depends how you look at it. Spin can be added to the story.

They were saying lending was up against the year before, but they forgot to say the year before was a car crash. I think we need to see March out before we get our knickers twisted.

de1amo

so we are not to base our whole financial strategy on 1 months figures--damn i was going out to dig a deeper hole with some stratgic credit card shopping and maybe a buy to let!!

skintdragon

Bah! After much deliberation I decided to start looking for a place of my own in Scotland but unfortunatley my finances over last 18 months have been a bit unstable, mainly because I left a salaried job and went to ad- hoc work (got paid but not at end of month like a salary, so this amounted to direct debits getting messed up etc). Now that I have finally got another salaried job (better paid, thankfully), I cleared my visa credit card this week, and thought "right, fresh start!" Now the news about mortgages and lending decreasing is left me perturbed, because I have not been able to save any cash since 2008 (paying off credit card, bills etc). I still have a loan to pay off but I wondered if I should even be considering buying property at this stage, especially as I may have damaged my credit rating. I was in financial hardship; it is too late to claim this?

Thrugelmir

de1amo wrote: »

maggie sold the council houses and most of the silverware in the last property and economy crash--in my oppinion she just staved off the inevitable--outside the uk they see us as a bankrupt and resourceless society--the oil is running out the service industry is disappearing and unless we re-invent ourselves we are 'doomed to third world status of which Maggie staived off in the late 70s-- no more high property prices but more austerity(sp)

The days of Mrs T are irrelevant to the issues that are being faced today.

The UK economy is in far better health than back then. Its the management of it which has gone amiss.

de1amo

The days of Maggie were of course different but we need someone of her caliber in management to turn this economy around-the avenues she had are not available now but a visionary with the grit she showed is what we need- i am not sure the record debt levels and rising unemployment we have now are all that different from those days-she took over at a later stage of the crisis but we are lurching towards the same under the current regime-i cant see cameron as much of an alternative though!

Dan_1976

Mortgage rates are keeping us safe I think. Most people are paying less than they have for a long time. Rates go up above 6% and more BSC members will be about!