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Lenders not wanting to lend

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  • JustMe18
    JustMe18 Posts: 167 Forumite
    Sixth Anniversary 100 Posts Name Dropper Combo Breaker
    If you are in a good position - why would they not lend? it's their profit. 
  • RelievedSheff
    RelievedSheff Posts: 12,691 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    Hoenir 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
    RelievedSheff Posts: 12,691 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    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
    ReadySteadyPop Posts: 1,631 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    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
    ReadySteadyPop Posts: 1,631 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    Hoenir 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
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    Hoenir 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
    ReadySteadyPop Posts: 1,631 Forumite
    1,000 Posts Photogenic First Anniversary Name Dropper
    Hoenir said:
    Hoenir 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
    BarelySentientAI Posts: 2,448 Forumite
    1,000 Posts Name Dropper
    Hoenir said:
    Hoenir 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.
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