Lenders not wanting to lend

JustMe18

If you are in a good position - why would they not lend? it's their profit. 

RelievedSheff

ReadySteadyPop said:

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?

It makes good click bait.

RelievedSheff

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".

I think you need to have a relook at your figures given that roughly a third of the population rent, a third of the population own outright and a third take out a mortgage (with 20% of that third taking out mortgages for BTL)

ReadySteadyPop

RelievedSheff 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".

I think you need to have a relook at your figures given that roughly a third of the population rent, a third of the population own outright and a third take out a mortgage (with 20% of that third taking out mortgages for BTL)

Yes, but all those groups will have other borrowing nowadays, higher rates hurt right across the spectrum and will lead to job losses as people cut back on spending to service debt. AirBnB and BTL would be two sectors that won`t do well from this.

ReadySteadyPop

RelievedSheff said:

ReadySteadyPop said:

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?

It makes good click bait.

So obviously lots of people out there are concerned about how much they will be paying for their debt?

Hoenir

ReadySteadyPop said:

RelievedSheff said:

ReadySteadyPop said:

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?

It makes good click bait.

So obviously lots of people out there are concerned about how much they will be paying for their debt?

Online services need to attract readers. No longer publish in hard copy.  Headlines (and the related articles) spread around social media like wildfire. Despite neither the journalist nor the reader being particularly well informed.  As was said some years back the average Facebook user has a shorter attention span than a goldfish.  That's around 8 seconds. 

ReadySteadyPop

Hoenir said:

ReadySteadyPop said:

RelievedSheff said:

ReadySteadyPop said:

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?

It makes good click bait.

So obviously lots of people out there are concerned about how much they will be paying for their debt?

Online services need to attract readers. No longer publish in hard copy.  Headlines (and the related articles) spread around social media like wildfire. Despite neither the journalist nor the reader being particularly well informed.  As was said some years back the average Facebook user has a shorter attention span than a goldfish.  That's around 8 seconds. 

 So mortgage rates are rising and base rate isn`t moving but people will flock to articles that tell them it ain`t so, or it won`t be for long?

BarelySentientAI

ReadySteadyPop said:

Hoenir said:

ReadySteadyPop said:

RelievedSheff said:

ReadySteadyPop said:

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?

It makes good click bait.

So obviously lots of people out there are concerned about how much they will be paying for their debt?

Online services need to attract readers. No longer publish in hard copy.  Headlines (and the related articles) spread around social media like wildfire. Despite neither the journalist nor the reader being particularly well informed.  As was said some years back the average Facebook user has a shorter attention span than a goldfish.  That's around 8 seconds. 

 So mortgage rates are rising and base rate isn`t moving but people will flock to articles that tell them it ain`t so, or it won`t be for long?

Lots of people slow down to look at car crashes on the motorway.  It doesn't mean that having a car crash is common, desired, likely or foreseeable.