Mortgage lending slumps to £112m

Graham_Devon

chucky wrote: »

it sounds it's all getting rather desperate in the Devon corner...

so 26 less mortgage approvals is weakening sentiment... oh dear

desperate much there Mr Devon...

Nope, I haven't resorted to insults and changing the data used from net lending to approvals.

Thank your buddy really, if you agree with his analysis

Right, really must get some work done. Spin away peeps

Really2

chucky wrote: »

it sounds it's all getting rather desperate in the Devon corner...

so 26 less mortgage approvals is weakening sentiment... oh dear

desperate much there Mr Devon...

So the figures are lower because of repayment/redemption as 26 less mortgages would not cause such a fall.

Yes I can tell now that people dont want to buy because net lending fell so much yet mortgages fell by only 26. (sarcasm as I cant tell what people think)

The only thing you tell from this is that people are repaying at one hell of a rate as purchases are hardly changed.

Really2

OK GD,

I think I can give you an example.

Lending - redemptions - repayments = net lending.

So which part is sentiment?

Or is the sentiment what you think the figure shows?

So could you tell me what people think house prices will fall or rise by from this in the next few months/year?

Or would you ask a sample of people?

I am just trying to grasp your idea of sentiment.

DervProf

chucky wrote: »

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...

Thank you.

Seriously, thank you for making that clear. I did suspect that there was more to the headline figure than it appears.

neverdespairgirl

"fewer mortgages"

DervProf

HAMISH_MCTAVISH wrote: »

I'm starting to think this board is what happens when you mix together Forrest Gump and Groundhog Day.

Groundhog day being repeated use of ........

http://www.ros.gov.uk/public/news/quarterly_housing_market_statistics.html

perhaps ?

If not, it must be........

http://www.youtube.com/watch?v=pu20c-Wbd98&feature=related


Suck on that.

posh*spice

Haven't read the whole thread but the OP has to be wrong. From Bloomberg.

U.K. Lenders Approve More Mortgages Than Forecast (Update2)

Oct. 29 (Bloomberg) -- U.K. lenders approved more mortgages than economists forecast in September, signaling a slowdown in the housing market may not be as severe as some reports had indicated.

Gross home loans amounted to 11 billion pounds.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ayzvBJJ2svUs

greenbubble

posh*spice wrote: »

Haven't read the whole thread but the OP has to be wrong. From Bloomberg.






http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ayzvBJJ2svUs

did you also not read the entire bloomberg article too ?

green

luvpump

http://www.mortgagerates.org.uk/news/house-price-cras/

Graham_Devon

Really2 wrote: »

OK GD,

I think I can give you an example.

Lending - redemptions - repayments = net lending.

So which part is sentiment?

Or is the sentiment what you think the figure shows?

So could you tell me what people think house prices will fall or rise by from this in the next few months/year?

Or would you ask a sample of people?

I am just trying to grasp your idea of sentiment.

I dunno what's up with you...

Hetal Mehta, UK economist at Daiwa Capital Markets Europe

"The fact the mortgage approvals did not fall further is of little comfort given the falls in previous months. The housing market is headed for a renewed slump, and today's data does not substantially alter the outlook.

"The feeble level of mortgage lending is clearly of concern. It is likely to reflect both the unwillingness of banks to lend as well as subdued demand as consumer caution remains heightened.

Nida Ali, economic adviser to Ernst & Young ITEM Club

"Today's figures complement our view that the UK housing market is indeed in the midst of a double dip. Mortgage approvals fell compared with a month earlier and growth in secured lending was completely flat. This suggests that housing demand continues to be depressed while those willing to buy a house will have difficulty in financing their purchase. Indeed the value of housing loans in September was the lowest since February.

Royal Institution of Chartered Surveyors (RICS)

"Data released by the Bank of England this morning shows that transaction activity in the housing market remains very subdued. Indeed, the number of mortgage approvals slipped to 47,474 in September. This is the lowest level since February.


"Two key factors are depressing activity levels; firstly, demand is weakening, as indicated by the by the RICS housing market survey. Secondly, there remains a major scarcity of mortgage finance. Indeed, the latest Bank of England credit conditions survey indicates that mortgage availability is not expected to improve during Q4.

Which part are you having so much trouble with?

You seem to be desperately trying to prove that sentiment doesn't affect demand.