Debate House Prices


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Mortgage lending plummets to 10-year monthly low...

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Comments

  • Sibley
    Sibley Posts: 1,557 Forumite
    Ninth Anniversary Combo Breaker
    All it will take is banks to start lending and the headline will be reversed. We all all just keeping the newspapers moving when there is no news about. House prices are the same and now just as before supply is falling.
    We love Sarah O Grady
  • House prices are continuing their inevitable fall.............
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • carolt
    carolt Posts: 8,531 Forumite
    Already been discussed and debated, the conclusion of which was that it's just temporary while prices stabilise thus giving any FTBers an ideal opportunity today to snap up their dream home before the next leg up.

    What an exciting fantasy life you lead.
  • DSM
    DSM Posts: 26 Forumite
    Sibley wrote: »
    All it will take is banks to start lending and the headline will be reversed. We all all just keeping the newspapers moving when there is no news about. House prices are the same and now just as before supply is falling.

    From my circle of friends and family, which I admit to being only a tiny snapshot of the public as a whole, even if the banks did start lending, I don't think the desire or demand is there to take on a mortgage at the moment especially if you work in an industry facing inevitable cuts like the public sector or several forms of engineering and construction (or have been given the push already!)

    Can't speak for people from other industries though whose outlook may be slightly more positive! Think its more of a northern issue.....
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    edited 21 September 2010 am30 8:29AM
    Lending for house purchases remained static.

    It is all down to remortgaging. Just that the daily mail are so sensationalist they cant bring themselves to publish that bit.
    http://www.independent.co.uk/news/uk/home-news/mortgage-lending-plunges-to-10year-low-2084194.html
    The Bank said data from the major lenders suggested that net lending, which strips out redemptions and repayments, was "little changed" during August.

    It added that while gross lending for house purchase was broadly stable during the month, remortgaging activity continued to be weak.

    What is more worrying is how often some people on here read the Daily Mail.:eek:
  • Heyman_2
    Heyman_2 Posts: 1,819 Forumite
    There's nothing quite like a good, balanced article like that from the Daily Fail to brighten up my morning.
  • Heyman wrote: »
    There's nothing quite like a good, balanced article like that from the Daily Fail to brighten up my morning.

    You may want to read this then Mortgage industry rag
    :cool:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Really2 wrote: »
    Lending for house purchases remained static.

    It is all down to remortgaging. Just that the daily mail are so sensationalist they cant bring themselves to publish that bit.
    http://www.independent.co.uk/news/uk/home-news/mortgage-lending-plunges-to-10year-low-2084194.html



    What is more worrying is how often some people on here read the Daily Mail.:eek:

    You are hardly likely to re-mortgage if you are on a BR linked mortgage icon7.gif mine is BR + 0.95% BTW.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • System
    System Posts: 178,227 Community Admin
    10,000 Posts Photogenic Name Dropper
    When the BoE eventualy raise the IR by the smallest amount I bet remortgaging explodes.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    sarkin1 wrote: »
    You may want to read this then Mortgage industry rag

    Do we have this discussion every month? is this the one about lending hasn't gone down it just has not gone up as much as last time icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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