Mortgage lending up

Dirk_Rambo

Blacklight wrote: »

Where do you live !!!!!!? I'm in the market for a good few places to rent out and prices have been falling off a cliff round your way for so long they must be paying people to take them away.

i did tell you b4 that weve got a residents commitee to keep the oiks out. so im sorry but youll have to look elsewhere. but good luck to you all the same

IveSeenTheLight

Graham_Devon wrote: »

Mortgage payments at the lowest proportion of home movers income for 35 years. Surely people can't continue arguing that base rates have no direct impact on the housing market when you see research like that!!

Graham,

If it was the base rate that had a direct impact on the housing mortgage, it would have reflected so when the base rates first hit 0.5%

People are saving as they move onto the SVR rates or take out new mortgage rates which are comparitavely lower than they have been previously.

All goes to point that currently mortgages are more affodable (35 years according to the report percentage of mortgage interest to income)

ERICS_MUM

What I'd like to know regarding the fall/rise of the number of approved mortgages is the corresponding fall/rise in mortgage applications. Has the ratio increased since the start of the recession. Is this a valid statistic anyway ?


Linda

IveSeenTheLight

Blacklight wrote: »

Also, 'round my way' is the correct term.

Where do you live !!!!!!? I'm in the market for a good few places to rent out and prices have been falling off a cliff round your way for so long they must be paying people to take them away.

I understand West Bromwhich is not that desireable an area.
Maybe not the best BTL opportunities.

So some posters have commented.

Originally Posted by DaddyBear
Well West Bromwich is a sh1thole with a t0ss football team.

lemonjelly wrote: »

If he is from west brom, any property there is worthless as it is the @rsehole of the universe anways...;)

System

Dirk_Rambo wrote: »

i did tell you b4 that weve got a residents commitee to keep the oiks out. so im sorry but youll have to look elsewhere. but good luck to you all the same

Do you realise that you're singlehandedly discrediting any bearish argument? You're doing nothing to help your cause.

In fact, maybe that's the answer, maybe you're the alias of Hamish and you're trying to make all bears look stupid.

Graham_Devon

IveSeenTheLight wrote: »

Graham,

If it was the base rate that had a direct impact on the housing mortgage, it would have reflected so when the base rates first hit 0.5%

People are saving as they move onto the SVR rates or take out new mortgage rates which are comparitavely lower than they have been previously.

And why are SVR's so much cheaper all of a sudden?

Because the base rates are so low maybe?

Are we still arguing therefore that base rates somehow do not have a direct effect on the housing market?!

Dirk_Rambo

IveSeenTheLight wrote: »

I understand West Bromwhich is not that desireable an area.
Maybe not the best BTL opportunities.

.

MrStalker, youve done it again and mixed me up with MrEnglish whose the 1 who actually lives there.
ps youve spelt west bromich worong.

Really2

Graham_Devon wrote: »

Are we still arguing therefore that base rates somehow do not have a direct effect on the housing market?!

It depends on what you think that effect is. All this talks about (well the point you use) is remortgages and new loans being cheaper than 35 years ago as a percentage of wages for those that move house.
So those with equity and want to move can get cheaper mortgages, that is not the entire housing market.

So state what parts of the housing market you think it affects, because for FTBs it is the cheapest since 2004 and base rate then was 4%-4.75%.

Surely that stat alone tells you base rate does not affect all.

IveSeenTheLight

Graham_Devon wrote: »

And why are SVR's so much cheaper all of a sudden?

Because the base rates are so low maybe?

Are we still arguing therefore that base rates somehow do not have a direct effect on the housing market?!

If it was "all of a sudden" they would have dropped as the base rate dropped.

They stayed higher as the lenders thought the base rate wouldn't stay as low as it has for as long as it has and thus marketted mortgage rates for the base rate rising.

The mortgage rates are lowering as they now believe that the base rate will still low for longer.

It's not a direct affect, it's an indirect affect.

IveSeenTheLight

Dirk_Rambo wrote: »

MrStalker, youve done it again and mixed me up with MrEnglish whose the 1 who actually lives there.
ps youve spelt west bromich worong.

P.s. you've spelt 'youve' and 'worong' wrong

P.P.S. see below

IveSeenTheLight wrote: »

Another poster who cannot provide facts

Originally Posted by IveSeenTheLight
Feel free to give me a shout should you wish to discuss factual things instead of made up things