Mortgage lending slumps to £112m

Graham_Devon

Really2 wrote: »

Net lending does indicate any sentiment

Well you better tell the media that. And the women from Standard Chartered. They tend to disagree with you.

Have fun denying the undeniable with spin

Graham_Devon

HAMISH_MCTAVISH wrote: »

Consumer confidence edged upwards in October, a survey showed, confounding forecasts it would drop to 14-month low ahead of the Government's spending review.

The predicted severe knock to confidence in the face of the fiscal squeeze did not materialise, according to respected GfK NOP index.

Analysts feared consumers' increasing gloom would push the index down as low as a reading of -24, but instead it rose.

Woop. Yet another post moving the full stop forward and cutting out the rest of the sentence!

It rose 1 point, to -19. (That's the bit you cut from the quote) That's still negative. Even if it is 1 point less negative

It's not the second coming

You roll around laughing at mortgage approvals reduced by only 26, but go out of your way to post that sentiment has risen, even removing the key part of how much it's risen by to make a vague point that it's all getting better out there. Then call me mr muddle.

Really2

I forgot, this means ony 700 houses were sold

Graham_Devon wrote: »

Low!? It's something like 700 average priced houses.

I'm all for the bearish statistics, but thats insane.

£1.12bn, surely?

:rotfl:

You quote saying the media think it is sentiment, do the media use spin.

The only indication you can get of sentiment is a survey not this. IT IS NOT A POLL OF SENTIMENT

Look at RISC if you want sentiment on house prices!


Remember Graham, don't be a Dingbat.

chucky

DervProf wrote: »

And you obviously didn`t see the , at the end of that sentence.

Sometimes chucky, you have to be a little bit more clever with you interpretation of what some of us post.

Without the , you have a point. However, there was a little humour/sarcasm in my post, indicated by the . It obviously went over your head.

it's just 'banter' - you've no need to feel that you need to explain yourself to me...

it sounds like you're trying a bit too much...

but... just in case you didn't know, i thought i'd help you out here...

Net Lending - Figures refer to gross lending less repayments and other adjustments (e.g. for bad debt write-offs). The breakdown of net lending figures (ie by banks and Building Societies) reflects the impact of acquisitions/disposals of mortgages or consumer credit portfolios.

Graham_Devon

Really2 wrote: »

I forgot, this means every house sold was £700.:D

You quote saying the media think it is sentiment, do the media use spin.

The only indication you can get of sentiment is a survey not this. IT IS NOT A POLL OF SENTIMENT

Look at RISC if you want sentiment on house prices!


Remember Graham, don't be a Dingbat.

Ahh, so standard chartered are spinning it. The media are spinning it. And the bulls (sorry forgot, your not actually bulls, more realists?) on here are correct.

This shows absolutely nothing to do with demand, and the weakness of it.

Right,well I'm off to write to the BBC, and also standard chartered and tell them they have it all wrong. I assume you wouldn't mind signing me e-mail?

The appetite for borrowing among consumers remained weak in September, according to figures from the Bank of England.

GRRR, lying, spinning BBC!!!

"Two key factors are depressing activity levels. Firstly, demand is weakening," a Rics spokesman said.

Grrrr, lying, spinning RICS!!

Thrugelmir

Really2 wrote: »

Net lending is irelevent to house prices.

Personally I would disagree with that.

What it indicates is that in overall terms lenders are heading towards cash neutrality.

New Lending = Net Repayment of Debt

As has been discussed on previous occassions. The UK mortgage market is unfunded without the UK governments artificial props.

So house prices are increasing reliant on saved wealth rather borrowed money to underpin them.

Really2

Graham_Devon wrote: »

Ahh, so standard chartered are spinning it. The media are spinning it. And the bulls (sorry forgot, your not actually bulls, more realists?) on here are correct.

No graham, net lending does not show sentiment, it shows numbers in £'s

I personally would look at a survey for sentiment. As you cant tell what people will do in the future or how much they will pay from these stats.


Dont' be a dingbat.

chucky

Thrugelmir wrote: »

Personally I would disagree with that.

What it indicates is that in overall terms lenders are heading towards cash neutrality.

New Lending = Net Repayment of Debt

As has been discussed on previous occassions. The UK mortgage market is unfunded without the UK governments artificial props.

So house prices are increasing reliant on saved wealth rather borrowed money to underpin them.

so how does that leave their balance sheet if they are sitting on large amounts of cash and large amounts of incoming cash each month - how does that leave the assets and liablities?

Graham_Devon

Really2 wrote: »

No graham, net lending does not show sentiment, it shows numbers in £'s

I personally would look at a survey for sentiment. As you cant tell what people will do in the future or how much they will pay from these stats.


Dont' be a dingbat.

You are taking the use of sentiment to the extreme....and asking about polls. Which is stupid.

Weakening demand, would suggest weakening sentiment.

Do you disagree with that?? Just continue calling me a dingbat if you do.

Otherwise, why do we have weaking demand if it's nothing to do with sentiment at a time house prices are falling!?

I despair.

And apparently, its ME who's the frother, while you spin literally anything and everything and even suggest the media and those involved in housing are spinning and lying!! Couldn't make it up.

Really2

Thrugelmir wrote: »

Personally I would disagree with that.

What it indicates is that in overall terms lenders are heading towards cash neutrality.

New Lending = Net Repayment of Debt

But you ignore the base rate, the biggest cause of net repayment, that is nothing to do with sentiment.

This is not a sign of sentiment, because if base rate was at 20% everyone may want to over pay but could not afford too.
So net lending could be high, even though the sentiment was that people wanted to cut back.

sentiment can only be judged on a survey.