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

System

Really2 wrote: »

No, he can't do that.

Yeah I take it back, we seem to be struggling still with WHY the figure is low.

Perhaps when IR's go up and everyone starts remortgaging again we can make a thread entitled "mortgage lending increases at fastest rate ever" and pretend it's amazing news.

Really2

Graham_Devon wrote: »

Oh right, the independant article which you said:

about?

And now, you are claiming it wasn't you who said it, but the independant article, therefore not your fault. You seemed to agree with them, and the mortgage figures are actually not bad. But now it's all the papers fault and they don't understand.

Ironic.

Can some one enable my GD ignore please.

That quote was a reply to the DM being tory? I don't read it I think it is for people with a lot of hate, cant I have an opinion?

The full quote to that person was.

Really2 wrote: »

Because they dont understand DM, it is not actually bad.

Lending for new purchases is about the same, approvals are about the same so all things being equal house prices are........:)

It is all down to people not remortgaging, that is not bad for the economy. If it is cheaper for them to drop on to SVR it should be partly good for the economy as they should have more money to spend.

edit,
Is the DM a tory supporter? I just thought it was for people who had given up thinking for themselves.

earlier I said , please note independant link.

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:

Can you now stop dry humping my leg, and give it a rest.

For the sake of the board drop the obsession GD please.

Really2

Joeskeppi wrote: »

Yeah I take it back, we seem to be struggling still with WHY the figure is low.

Perhaps when IR's go up and everyone starts remortgaging again we can make a thread entitled "mortgage lending increases at fastest rate ever" and pretend it's amazing news.

Yes, by their logic that will mean a boom and great for the economy. 100,000's of people pay off their mortgages and take out a new one for the same amount + fees.:) Great for the economy all that money being borrowed and paid back at the same time.:)

Thrugelmir

Conrad wrote: »

ONE EXAMPLE - A Nurse I cannot help as she works for 3 agencies. She is now forced into the waiting embrace of landlords.

Well done FSA.

The days of agency work being the prefered employment route of Nursing staff may be over. As NHS trusts cut back to save money on their payrolls. Maybe that lower paid less flexible job may prove to have been a better option. (Said with inside knowledge).

Thrugelmir

Joeskeppi wrote: »

Perhaps when IR's go up and everyone starts remortgaging again we can make a thread entitled "mortgage lending increases at fastest rate ever" and pretend it's amazing news.

Where are they going to remortgage to ?

The 6 largest lenders account for 82% of all new mortgage lending (2007 - 65%).

Really2

Thrugelmir wrote: »

Where are they going to remortgage to ?

The 6 largest lenders account for 82% of all new mortgage lending (2007 - 65%).

Perhaps another reason why these figures (CML) are what they are.

Most borrows should be able to remortgage, anyone with more than 10% equity could now. Out of the 11m mortgaged owners out there, there is a lot of scope for people doing so.

Thrugelmir

Really2 wrote: »

Perhaps another reason why these figures (CML) are what they are.

The figures are actually worse. As many lenders (that subsequently left the market) were not members of the CML back in the boom years 2003 - 2007.

sarkin1

Only me :cool: