Wednesday, Jun 27, 2007
significant reduction?
Firstrung: Mortgage lending for house purchases down 4% - BBA
Mortgage Lending; when compared to May 2006, house purchase approvals were down 4% by number but up 9% by value; remortgaging approvals were up 13% by number and 25% by value; while approvals for equity withdrawal were down 3% by number but 6% higher by value.
Posted by converted lurker @ 11:30 AM (175 views) Add Comment
4 Comments
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1. fahrenheit451 said...
So there are fewer player in the market, but the ones that are left are playing with higher stakes.
Sounds like a game of poker, well in poker there is only one winner, who bags the whole pot, everyone else looses.
I bet that in this game the Taxman (and the Bank Manager) winneth.
Everyone else looses - big time.
2. Converted Lurker said...
good points
3. Scott said...
Don't hold your breath, for 2 reasons: -
1) 4% is not that much
2) You will suffocate!
4. Planning4acrash said...
This, if the trend continues, combined with a small but steady rise in properties on the market should be enough to turn the sentiment around, to a buyer's market by mid autumn. :)