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Cml: mortgage approvals plummet in April!

124

Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    !!!!!!_face wrote: »
    End of the World, innit.

    http://finance4free.com/marc-faber-total-collapse-will-come-economic-armageddon-dollar-crash
    http://www.financialarmageddon.com/
    http://www.marketoracle.co.uk/Article19079.html/
    http://www.whatdoesitmean.com/index1335.htm
    http://jeffords.blogspot.com/2010/03/economic-armageddon-courtesy-of-obama.html

    [n.b. not vouching for any of the above as have not read any of it, just demonstrating what can happen if you ask a silly question, lol]
    "It's probably only a silly question if you don't understand the answer." that was Plato by the way
  • twadge_face
    twadge_face Posts: 594 Forumite
    chucky wrote: »
    "It's probably only a silly question if you don't understand the answer." that was Plato by the way
    What's the relevance of Plato to your answer?
    Long live the faces of t'wunty.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    !!!!!!_face wrote: »
    What's the relevance of Plato to your answer?
    just as random as you're comments on this thread...

    now let's get back on topic...

    the number of mortgage approvals is down Month on Month but the value of mortgages taken out (meaning house prices increased)... incredible (just don't let Hamish know)...

    40,000 loans worth £5.7 billion in April - an average mortgage of £142,500
    45,000 loans worth £6.3 billion in March - an average mortgage of £140,000

    there were 40,000 loans advanced for house purchase in April worth £5.7 billion, down from 45,000 (worth £6.3 billion) in March but up from 35,000 (worth £4.5 billion) in April 2009

    not only that... but the percentage FTB numbers are no different to the average numbers in the last 8 years... who said that FTB's are priced out?
  • Blacklight
    Blacklight Posts: 1,565 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    chucky wrote: »
    who said that FTB's are priced out?

    Carol did.
  • Henry_P_Chester
    Henry_P_Chester Posts: 451 Forumite
    Part of the Furniture Combo Breaker
    chucky wrote: »
    just as random as you're comments on this thread...

    now let's get back on topic...

    the number of mortgage approvals is down Month on Month but the value of mortgages taken out (meaning house prices increased)... incredible (just don't let Hamish know)...

    40,000 loans worth £5.7 billion in April - an average mortgage of £142,500
    45,000 loans worth £6.3 billion in March - an average mortgage of £140,000


    not only that... but the percentage FTB numbers are no different to the average numbers in the last 8 years... who said that FTB's are priced out?

    A drop in mortgage approvals shows a drop in demand at a time when supply is surging.

    Using your logic 1000 approvals at a total value of £10bn making the average mortgage £1m would be indicative of a very healthy housing Market.

    That fact that the average loan has increase is a consequence of the lack of FTBs. There are many more higher value properties selling with the lower cost FTB Market dead. This mirrors exactly what I and many others have been seeing in local areas for several months now.
    Debt Is Slavery.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    chucky wrote: »
    40,000 loans worth £5.7 billion in April - an average mortgage of £142,500
    45,000 loans worth £6.3 billion in March - an average mortgage of £140,000

    More importantly it shows a decline in total lending. We may yet see the first net repayment of mortgage debts in decades when the BOE releases its April lending figures.

    March 2010 was only a net £500 million up.
  • tomstickland
    tomstickland Posts: 19,538 Forumite
    10,000 Posts Combo Breaker
    Great name OP.
    Henry P Chester....HPC.
    Happy chappy
  • tomstickland
    tomstickland Posts: 19,538 Forumite
    10,000 Posts Combo Breaker
    chucky wrote: »
    lmao - it's not positive spin it's facts and 100% facts...
    That's not a fact but it's scientifically proven.

    Yeah.
    Happy chappy
  • carolt
    carolt Posts: 8,531 Forumite
    Blacklight wrote: »
    Carol did.

    How exciting. Am I now quoted as an authority on all things house-price related?
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    carolt wrote: »
    How exciting. Am I now quoted as an authority on all things house-price related?

    Fortunately not ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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