Mortgage lending slumps to £112m

Graham_Devon

chucky wrote: »

pmsl - some people need to look at the definition of net lending

froth, froth, froth from the usual suspects

What's your take on it then?

I've just had a look at HPC, and their take seems to be pretty much the same...

http://www.housepricecrash.co.uk/forum/index.php?showtopic=153685&view=findpost&p=2766126

http://www.housepricecrash.co.uk/forum/index.php?showtopic=153685&view=findpost&p=2766072

Your take must be that britons are injecting MASSIVE amounts of overpayments? HUGE amounts suddenly.

Call it froth froth froth all you like. My take on that is you really don't like the figures.

chucky

doire wrote: »

You can spin it anwyay you like. This isnt good news for the housing market. And that is all that matters. Bye bye chucky

so you're saying that people redeeming mortgages and repayments isn't good for the housing market.... it's probably the reverse...

i think you need to have a little rethink sunshine, if not get yourself an economics text book - you may learn something...

froth on, froth on doire...

Graham_Devon

Blacklight wrote: »

A 90% drop would mean either, 90% less property sold (48,000 - 90% = 4,800) or a 90% drop in house prices.

Or more downsizers, more cash buyers etc.

Wheezy_2

Graham_Devon wrote: »

Your take must be that britons are injecting MASSIVE amounts of overpayments? HUGE amounts suddenly.

From the OP:

a combination of a lack of activity in the property market and existing homeowners focusing on reducing their mortgage debt while interest rates remain low.

chucky

Graham_Devon wrote: »

What's your take on it then?

I've just had a look at HPC, and their take seems to be pretty much the same...

http://www.housepricecrash.co.uk/forum/index.php?showtopic=153685&view=findpost&p=2766126

http://www.housepricecrash.co.uk/forum/index.php?showtopic=153685&view=findpost&p=2766072

Your take must be that britons are injecting MASSIVE amounts of overpayments? HUGE amounts suddenly.

if you want to know then answer you need to look at the gross lending figures - it will tell you what the average mortgage amount is.

we've been here before a few times... do we need to get the thread where it has been explained to you?

Blacklight

Wheezy wrote: »

From the OP:

People making hay while the sun shines. Crack on, it won't last according to those patiently renting, waiting for rates to go up before they buy.

Aberdeenangarse

chucky wrote: »

pmsl - some people need to look at the definition of net lending

froth, froth, froth from the usual suspects

The figures show a dramatic difference between recent months and the height of the property market boom in the autumn of 2007.

In September that year, net mortgage lending increased by £10bn, the second highest monthly figure on record. Three years on, net mortgage lending was about 1% of that, at £112m.

http://www.bbc.co.uk/news/business-11650909

toss, toss,toss from the forum bully!

Graham_Devon

chucky wrote: »

if you want to know then answer you need to look at the gross lending figures - it will tell you what the average mortgage amount is.

we've been here before a few times... do we need to get the thread where it has been explained to you?

Stop trying to pretend I don't understand.

This is a 90% drop. So either new lending is drying up, or suddenly people are injecting massive amounts into their mortgages.

You appear to be going with people suddenly injecting massive amounts into their mortgages. Fine.

I'm not suggesting only 700 new mortgages have been put through, just stating how small a figure that 112m is in housing terms.

Either way, it's not good, which is why your simply trying to make something of calling other people thick instead of focusing on the figures.

chucky

Graham_Devon wrote: »

Or more downsizers, more cash buyers etc.

for once i agree with you, not with the down sizers but regarding cash buyers.

i reckon that about 30% of sales are currently cash buyers.
you probably no what that means don't you... Blacklight has touched on it on Post 17...

chucky

Graham_Devon wrote: »

Stop trying to pretend I don't understand.

This is a 90% drop. So either new lending is drying up, or suddenly people are injecting massive amounts into their mortgages.

You appear to be going with people suddenly injecting massive amounts into their mortgages. Fine.

I'm not suggesting only 700 new mortgages have been put through, just stating how small a figure that 112m is in housing terms.

Either way, it's not good, which is why your simply trying to make something of calling other people thick instead of focusing on the figures.

jeez, i've agreed with you - it's because there are less mortgage transactions, more people repaying mortgage debt and more cash buyers.

i don't know if it's good or bad but suggesting looking at the gross lending figures to tell you if it's good or bad... net lending tells you very little.