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Debate House Prices


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Mortgage lending rose in February

24

Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Rinoa wrote: »
    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 that's the case whoever makes an assumption out of these numbers is limited in intelligence
  • Really2
    Really2 Posts: 12,397 Forumite
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    Graham_Devon wrote: »

    Up 6% on January 2010 which was a severely bad month.

    Booming.

    Disappointed GD? What would you have liked to have seen +20%?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The net lending figures will take on more and more importance, rather than the gross.

    As the underlying funding gap issues haven't even been started to being addressed yet.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I dunno, you post up an article about lending rising, and what you get in return?
    Really2 wrote: »
    Disappointed GD? What would you have liked to have seen +20%?
    chucky wrote: »
    if that's the case whoever makes an assumption out of these numbers is limited in intelligence

    Post up a bearish article, and you get the same thing!
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    I dunno, you post up an article about lending rising, and what you get in return?





    Post up a bearish article, and you get the same thing!
    actually no (again)

    my post was in reference to anyone making conclusions from these numbers without knowing the underlying approval numbers lacked intelligence.

    you seem to have taken that bait far too easily (which is not a surprise)...
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    I dunno, you post up an article about lending rising, and what you get in return?

    It was a serious question what did you want to see? I presumed your "booming" comment meant something?
  • Rinoa
    Rinoa Posts: 2,701 Forumite
    OK. Here's the BoE's 'Trends in Lending' hot off the press:

    http://www.bankofengland.co.uk/publications/other/monetary/TrendsMarch10.pdf

    Page 9 has the relative info.

    A mixed picture. The main lenders say approvals were down slightly in February, but lending specifically for house purchase was up ~ indicating a rise in price?

    Make of it what you will.
    If I don't reply to your post,
    you're probably on my ignore list.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 18 March 2010 at 12:26PM
    Lending for purchase is the only component of lending that influences house prices.

    Remortgaging and equity withdrawal are irrelevant, so gross lending is meaningless.

    And yes, if approvals are slightly down, but lending for purchase totals are up, then it equates to a higher loan value, which is most likely a result of higher prices being paid, or smaller deposits being needed.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Blacklight
    Blacklight Posts: 1,565 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well if nobody left their homes in December or January to go and look at properties for sale I'm not surprised lending isn't more than 9bn.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    chucky wrote: »

    you seem to have taken that bait far too easily (which is not a surprise)...

    So you are trying to bait then?

    You then scoff when you get a response?

    How you do surprise me chucky.
This discussion has been closed.
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