And what about the off balance sheet debt?....

Mail: Government borrowing falls to its lowest level since before the financial crisis - but national debt soars to a record £1.27 trillion

'The debt has doubled in five years, tripled in nine years and quadrupled in 12 years as Britain lived way beyond its means.'

Posted by hpwatcher @ 04:29 PM 2 Comments

Aargh! My dirty little secret is out!

Leamington Spa Courier: Record month for Heritage Property in Kenilworth

The Kenilworth branch of Heritage Property celebrated record sales for March 2014 with sales of over £7 million being agreed. Sales manager Mark Wadsworth, an estate agent with 25 years experience said: “We had an excellent start to the year exceeding our targets in both January and February but March has proved to be a record breaking month."

Posted by mark wadsworth @ 02:33 PM 4 Comments

Approvals slow as MMR deadline date nears

TurnKey Mortgages: Mortgage approvals slow

After 11 consecutive month-on-month increases, the number of mortgages approved for home purchases dropped between January and February 2014 as lenders geared up to implement the FCA's tough new mortgage regime.

Posted by ben @ 02:27 PM 2 Comments

Watch that debt interest, global interest rates are rising!

Tradingfloor: New Zealand Central Bank Raises Official Cash Rate to 3.00%

WELLINGTON, New Zealand--New Zealand on Thursday raised interest rates for the second consecutive month as the nation's economic expansion gains momentum and inflationary pressures increase. "In this environment it is important that inflation expectations remain contained. To achieve this it is necessary to raise interest rates towards a level at which they are no longer adding to demand," Reserve Bank Governor Graeme Wheeler said in a statement after lifting the cash rate 25 basis points to 3.00%. He underscored, however, the speed and extent to which the cash rate will be raised "will depend on economic data and our continuing assessment of emerging inflationary pressures, including the extent to which the high exchange rate leads to lower inflationary pressure."

Posted by khards @ 09:20 AM 5 Comments

Wednesday, Apr 23, 2014

Debt doesn't matter if you plan to default on repaying it

Maxkeiser: This is why talk of UK recovery is nonsense. Osborne’s shock growth in UK debt.

At 9.30am 2moro @ONS data will confirm George Osborne has grown National Debt more in 4 yrs than Labour did in 90 yrs

Posted by khards @ 01:42 PM 16 Comments

The Tories should be appalled - but what should they do about it.....

Torygraph: Honest work can't put a roof over people's heads: true Tories should be appalled

Its good we have political consensus growing for reducing the cost or housing. While I think building more houses is important - it is of far more fundamental importance to enact policies that reduce rents and house prices, shifting the tax burden being the first.

Posted by pete green @ 10:57 AM 4 Comments

Well, this should be easy to monitor and enforce

Daily Mail: The mortgage inquisition: Borrowers face tough new quiz..

The FCA's new 'macroprudential' regulation of mortgages to rein in house price rises. Mortgage applicants are to face 'invasive' and 'inquisitorial' questions about their finances and lifestyles in an interview lasting 'up to 3 hours'. There will be stress tests like: what if IRs rose sharply, say to 7%. And there'll be far fewer short, fixed-term teaser rates and virtually no interest-only mortgages. Ray Boulger thinks it's silly.

Posted by icarus @ 09:51 AM 22 Comments

Tuesday, Apr 22, 2014

The shape of things to come - probably pensions and more QE next.

Zerohedge.com: Martin Armstrong Warns "Abandon The UK Before You Can't"

''The politicians have squandered everything and now they are hunting down capital everywhere and the view is people have to pay whatever they demand or you are just a criminal.''

Posted by hpwatcher @ 08:21 PM 2 Comments

London has started to crash

Mindfulmoney: Three reasons not to rush into housebuying now

I came across these charts while trying to figure out the best places to hunt for houses in London on a value-for-money basis; I think they speak for themselves… Slump in new buyer enquiries and the gulf in house prices has never been greater. These three charts seems to suggest that the sharp surge in London house prices over the last few months could be at risk of cooling or even partially reversing over the next few months, hard though it may be to believe at the moment!

Posted by khards @ 06:08 PM 26 Comments

Very surprising stats and some interesting conclusions

BBC News: Is the UK mending fast enough?

Not what I expected at all, tbh. Last info I'd read on UK debt was in the Economist last year, accurate at Sept. 2012. It turns out the situation has much improved since then, but only as a % of GDP. Banking debt has apparently fallen significantly, though.

Posted by reticent @ 06:07 PM 6 Comments

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