Lenders not wanting to lend

Hoenir

ReadySteadyPop said:

housebuyer143 said:

Lenders need to lend to have a viable business so no, they are not trying to get out of lending.

They are just getting out of meeting sellers expectations, a price correction would benefit lenders as they will get more customers.

Lenders are more interested in not incurring bad debts. 

ReadySteadyPop

Hoenir said:

ReadySteadyPop said:

housebuyer143 said:

Lenders need to lend to have a viable business so no, they are not trying to get out of lending.

They are just getting out of meeting sellers expectations, a price correction would benefit lenders as they will get more customers.

Lenders are more interested in not incurring bad debts. 

And not meeting sellers daft expectations/EA`s daft valuations is the perfect way to hedge against that.

amnblog

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

ACG

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe go and speak to that lender beginning with V. After some of the stunts they pulled during covid I have no idea how. 

ReadySteadyPop

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

ACG

Thats always been the case.ReadySteadyPop said:

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

ReadySteadyPop

ACG said:

Thats always been the case.ReadySteadyPop said:

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

The banks were not lending sensibly in the past, that is why half the country is hanging onto the hope of "rate cuts".

ACG

ReadySteadyPop said:

ACG said:

Thats always been the case.ReadySteadyPop said:

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

The banks were not lending sensibly in the past, that is why half the country is hanging onto the hope of "rate cuts".

Maybe. But most people with large mortgages (comparative to income) would have been assessed on rates of 6-8% so should be able to take the shock of rate rises. The problem is that it has come combined with inflation of over 10% and people may have also had kids or taken out cars or other finance as the mortgage repayments were lower than they could actually afford. 

Hoenir

ReadySteadyPop said:

ACG said:

Thats always been the case.ReadySteadyPop said:

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

The banks were not lending sensibly in the past, that is why half the country is hanging onto the hope of "rate cuts".

There's far more savers than borrowers in the UK.  Also 20% of total borrowing is BTL. Just 80% is residential. Facts speak volumes. 

ReadySteadyPop

Hoenir said:

ReadySteadyPop said:

ACG said:

Thats always been the case.ReadySteadyPop said:

amnblog said:

A mortgage adviser suggesting Lenders are ‘looking for reasons not to lend’ is not demonstrating a sound understanding of the market.

How long would a Lender avoiding lending stay in business?

Maybe they are lending but more sensibly, if the buyer wants to overpay they will have to add their own money?

The banks were not lending sensibly in the past, that is why half the country is hanging onto the hope of "rate cuts".

There's far more savers than borrowers in the UK.  Also 20% of total borrowing is BTL. Just 80% is residential. Facts speak volumes. 

So the media going on about rate cuts that might happen....sometime..... every day is just something they like doing, it doesn`t have any relevance to most of the public?