Thursday, Jan 18, 2007
Bull or Bear? Not Waving But Drowning?
BBC News: Mortgage lending 'at record high'
Mortgage lending fell 10% in Dec but was 20% up on the figures for 2005.
Posted by nearly30 @ 08:42 PM (206 views) Add Comment
5 Comments
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1. nearly30 said...
Don't know why this has a positive slant?
Went on to land registry website and looked at the sales volume figures - it tells an interesting picture
http://www.landregistry.gov.uk/assets/library/documents/hpir1206.pdf
Volume of Sales by price Sept 2005 to Sept 2006 comparison % change
£150,000 and under = change of minus 66%
£150,000 to £300,000 = change of 31%
£300,000 to £1M = change of 140% (sorry for aggregate but thought out of reach for most)
Over 1M = change of 122%
Overall change of total volume = 1% or 1,000 homes
So - no wonder mortgage lending is high!!! Just people finding house more expensive!!!
But are sales higher???
Guess BBC will always champion a positive slant if lending high but to less people!!!!
2. harold said...
thanks for the good analysis - very interesting to see the bonus-driven top-end booming and proping up the figures
3. george monsoon said...
I feel sick
4. p. o. o. r said...
How do the figures seperate out those people who are trying to protect themselves for the next few years by taking out fixed rate deals, and whilst they are at it borrowing another 10 to 20K to pay back their credit cards, and bank loans. It would be interesting to see a complete comparison of borrowing including credit cards, bank loans, car financing, etc etc with mortgages.
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