Mortgage lending 'picks up again' Up 19% MoM

Doctor_Gloom

Graham_Devon wrote: »

I am of course, taking the pee here. But seriously, it seems like a race to get the stories up and then shining the spotlight directly on one bit, while ignoring everything else, as if to say.

.

Graham, you should start charging these guys for the entertainment. If you stopped posting, they'd have absolutely nothing to do all day :rotfl:

Really2

Doctor_Gloom wrote: »

Graham, you should start charging these guys for the entertainment. If you stopped posting, they'd have absolutely nothing to do all day :rotfl:

Your right, I bet you will be upset when the 6th of Sept comes though.:)

Dirk_Rambo

nobody can get a morgage any more. cos the banks wont lend. they wont lend because they know houses are 2 dear. theyre no mugs

Really2

Dirk_Rambo wrote: »

nobody can get a morgage any more. cos the banks wont lend. they wont lend because they know houses are 2 dear. theyre no mugs

That's a great post on this thread dirk.

Mortgage lending to home buyers picked up again in June, the Council of Mortgage Lenders (CML) says.

Its figures showed that there were 52,000 new loans granted to home buyers, 19% more than in May and up 14% on the same month a year ago.

I don't know what else to say.:)

Dirk_Rambo

Really2 wrote: »

I don't know what else to say.:)

i do. dont buy an overpriced house, buy silver instead, its grate value. if you dont bleieve me ask mr English.

paul1964_2

Graham_Devon wrote: »

Bull seem majorly flustered today.

Not sure, but I think the accepted forum term is "frothing".

doire_2

chucky wrote: »

i thought that the number of FTB's was dropping MoM - it seems to go against what people are saying on here...

I may be feeling the effects of just getting back from the dentist and being pumped full of stuff to numb my mouth but im confused.............high house prices FTB are priced out. Low house prices FTB cant get a mortgage to buy a house. Very strange.

Generali

This is the bit of the article that stands out to me:

However, this has still left lending and sales at levels roughly half those recorded in the years running up to the onset of the credit crunch in 2007......

After a slight relaxation by lenders in April and May, first-time buyers in June were back to having to put down deposits averaging 24% of the value of the homes they are buying.

So times are still hard for FTBs (I read somewhere this week that the average age of an FTB buying without a gifted deposit is 37!).

For the rest things are slowly getting better for the rest although still a long way from the gravy train years.

IveSeenTheLight

Generali wrote: »

(I read somewhere this week that the average age of an FTB buying without a gifted deposit is 37!).

Let's think about this for a second and try to understand why it might be.

I recall reading something that showed that historically, peaople used to settle down and get married earlier in life.
People are living different lifestyles now that what previous generations did.

Aren't people who potentially were owners previously but are not owners (for 6 months (is this correct?)) included in the figures?

I've also read there is an increase in people divorcing.
Could these divorcee's who rent for a period before buying included in this figure

Could it be that part of the rise in the average FTB is because of a change in lifestyles?

If so, is there anything to get hung up on the age if there are variables which have caused it.

I first bought when I was 26, my wife when she was 22.
I know many people who have bought in their early 20's.
Could this be area dependant?

It certainly would be good for more detail to analyse

chucky

doire wrote: »

I may be feeling the effects of just getting back from the dentist and being pumped full of stuff to numb my mouth but im confused.............high house prices FTB are priced out. Low house prices FTB cant get a mortgage to buy a house. Very strange.

are you sure it wasn't the optician that you came back from because you didn't seem to be able read my post.

as for the confusion, a little tip for you. don't eat yellow snow...

here's what the CML said...

However, first-timers are managing to get back into the market.

They took 28% more mortgages in the first half of this year than they did in the first six months of 2009.

if you think that it is incorrect, i'd suggest you contact the CML.

i've included their details here for you

Council of Mortgage Lenders
Bush House
North West Wing
Aldwych
London
WC2B 4PJ

Switchboard: 0845 373 6771
Fax: 0845 373 6778

or if you prefer email you can contact the Press Office for media enquiries - [EMAIL="jayne.chichester@cml.org.uk"]jayne.chichester@cml.org.uk[/EMAIL]