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Mortgage lending rose in February
Graham_Devon
Posts: 58,560 Forumite
http://news.bbc.co.uk/1/hi/business/8574053.stmMortgage lending increased in February as the fluctuation in the housing market continued, lenders have said.
Gross lending for home loans in the UK rose by 6% in February compared with January to an estimated £9.2bn, the Council of Mortgage Lenders (CML) said.
The figures come after a slowdown in January when housing market activity was hit by the weather and the end of stamp duty relief.
Lenders said they expected an uneven market in the months ahead.
Up 6% on January 2010 which was a severely bad month.
Booming.
To put these numbers into perspective.
13.4bn was lent in December, 11.5bn in November. Though I appriciate it was the end of the stamp duty holiday.
11.5bn was lent in January 2009.
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Comments
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http://www.cml.org.uk/cml/publications/marketcommentary
Gross lending is always difficult to evaluate as it includes remortgages.
However it does look as though the market is still suffering from the February weather and stamp duty distortion.If I don't reply to your post,
you're probably on my ignore list.0 -
Ahh yes, forgot the weather. Was a bit breezy on the 13th feb.
Good point there Rinoa.0 -
Why would remortgaging suddenly have shot up??? Answer: It won't have.
It's down on a year ago. Slightly. Are you so insecure as to not allow any "ups and downs"? It's not like it's crashed. Calm down dear.0 -
Graham_Devon wrote: »Up 6% on January 2010 which was a severely bad month.
Booming.
To put these numbers into perspective.
13.4bn was lent in December, 11.5bn in November. Though I appriciate it was the end of the stamp duty holiday.
11.5bn was lent in January 2009.
Oct 13,374
Nov 12,097
Dec 13,385
Jan 8,680
Febest 9,200
Are the figures from the report.0 -
http://www.cml.org.uk/cml/publications/marketcommentary
Gross lending is always difficult to evaluate as it includes remortgages.
However it does look as though the market is still suffering from the February weather and stamp duty distortion.
Got bored with the Credit Crunch forum, Columbo?Politics is not the art of the possible. It consists of choosing between the disastrous and the unpalatable. J. K. Galbraith0 -
what is the average mortgage from these figures?Graham_Devon wrote: »http://news.bbc.co.uk/1/hi/business/8574053.stm
Up 6% on January 2010 which was a severely bad month.
Booming.
To put these numbers into perspective.
13.4bn was lent in December, 11.5bn in November. Though I appriciate it was the end of the stamp duty holiday.
11.5bn was lent in January 2009.0 -
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against the number of approvals for that month - you then know if prices (may be) trending downwards or upwards. just another indicator.Graham_Devon wrote: »Dunno doesn't say. Where would one find out?0 -
Sir_Humphrey wrote: »Got bored with the Credit Crunch forum, Columbo?
Just as you obviously have Humph.
If I don't reply to your post,
you're probably on my ignore list.0 -
against the number of approvals for that month - you then know if prices (may be) trending downwards or upwards. just another indicator.
These figures include remortgaging so a comparrison wouldn't really be possible.
The BoE will release their Trends in Lending report any day soon and we'll see a more accurate picture of lending specifically for house purchase.If I don't reply to your post,
you're probably on my ignore list.0
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