We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage Lending Increasing
HAMISH_MCTAVISH
Posts: 28,592 Forumite
http://www.telegraph.co.uk/finance/economics/9777765/UK-banks-significantly-increase-lending-for-mortgages-and-business-says-Bank-of-England-credit-survey.htmlThe BoE's latest quarterly Credit Conditions Survey revealed the availability of secured credit to households rose significantly in the final three months of 2012 – setting a new high since the survey began in 2007.
Banks and building societies also increased lending to borrowers with smaller deposits, and said they were planning to increase their maximum loan-to-values in what will come as a welcome move for those struggling to get on the housing ladder.
The survey showed that banks and building societies expect to ramp up lending significantly in the first three months of 2013.
“Lenders noted that the FLS had been an important factor behind this increase, consistent with a reported easing in wholesale funding conditions, pushing up significantly on credit availability,” the BOE said.
Immensely good news.
Still a very long way to go of course, but a firm step in the right direction.
:beer:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
-
I wonder how much of a direct impact the FLS has made to this.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »I wonder how much of a direct impact the FLS has made to this.
I wonder whether the regulator has had a nod and a wink to the banks about the future direction of regulation.
Basle III may yet be 'unagreed'.:cool:0 -
IveSeenTheLight wrote: »I wonder how much of a direct impact the FLS has made to this.
Pretty big I reckon.
Although the article also mentions wholesale funding is increasing, so looks like the dysfunctional global credit markets may be easing a little as well, it seems likely that FLS is having a big impact and of course it's only just begun.
The BOE state it will take time to work through and so the big effects probably won't be felt until well into next year.
I don't think it's a coincidence that FTB lending is up 12%, and FTB house prices up 3% this year, with a big surge in lending towards the end.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Wow. I'm starting to think my +4% nominal HPI in the prediction thread was way too conservative.
0 -
Interesting to see in the CML publication the number of mortgages in arrears being 157K...
...as opposed to 1.4 million in Foxy's thread about the Shelter 'survey'0 -
HAMISH_MCTAVISH wrote: »http://www.telegraph.co.uk/finance/economics/9777765/UK-banks-significantly-increase-lending-for-mortgages-and-business-says-Bank-of-England-credit-survey.html
Immensely good news.
Still a very long way to go of course, but a firm step in the right direction.
:beer:
Confused... how does this happen with all that 'mortgage rationing' you keep talking about?Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Confused... how does this happen with all that 'mortgage rationing' you keep talking about?
You must be very confused as you have quoted the answer to your question.HAMISH_MCTAVISH wrote: »
Still a very long way to go of course0 -
Confused... how does this happen with all that 'mortgage rationing' you keep talking about?
I can see how you'd be confused, but only if you hadn't bothered reading anything in the thread.......HAMISH_MCTAVISH wrote: »the article also mentions wholesale funding is increasing, so looks like the dysfunctional global credit markets may be easing a little as well, it seems likely that FLS is having a big impact and of course it's only just begun.
The BOE state it will take time to work through and so the big effects probably won't be felt until well into next year.
I don't think it's a coincidence that FTB lending is up 12%, and FTB house prices up 3% this year, with a big surge in lending towards the end.
And then of course there's this......HAMISH_MCTAVISH wrote: »Still a very long way to go of course, but a firm step in the right direction.
I do so miss the :rolleyes: smiley....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards