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Debate House Prices
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Gross Mortgage Lending Figures
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The chart is gross lending, not net ... trying to find those figures!0
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The chart is gross lending, not net ... trying to find those figures!
BoE net lending figures are released as part of the Trends in Lending report IIRC. Google that and you should find it.
Otherwise the CML do net lending figures but IIRC no longer allow access to the data to anyone other than members.0 -
That's the opposite of what I've been reading which is that Net mortgage lending is negative and mortgages are being repaid at a record rate.
Net mortgage balances have increased by around £32 billion since 2008. ( Based on lastest published data).
This is offset by an increase in cash deposits of £60 billion.
The general view being. That the fortunate mortgage borrowers. Those with base rate trackers and low SVR's (Lloyds and C&G) have been retaining cash rather than overpaying their mortgage.
There has been no indication as yet. Of a surge in people overpaying their mortgage balances. This will only come about when those on interest only (borrowers in the boom times). Tackle the issue of repaying their debts. I.E. switching onto a repayment mortgage.
With savings rates now at lows. Perhapos we will start to see a trend in overpayments. With the debt at the level it is. Going to take some time to have a noticable impact.0
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