Monday, Jun 30, 2008
From the horse's mouth
Bank of England: Lending to individuals, latest release
This release used to be a frontline stat, but now you have to burrow to find it. They've also stopped showing a rather good graph.
I don't know how to stick graphics into posts here, but if someone would like to go into the banks interactive database, type in the code LPMVTUV, output for the last ten years and create a graph from the data, you can see how lending has suddenly fallen off a cliff...
Posted by uncle tom @ 03:03 PM (1303 views) Add Comment
13 Comments
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1. Thedman said...
The figures show that BTL house purchases have fallen from an avergage of about 28,000 last year to 3,000 in May. That's got to have an effect.
2. mark said...
i think this link is more up to date with graphs
http://www.bankofengland.co.uk/statistics/li/2008/may/index.htm
3. uncle tom said...
oops! - linked to the wrong release - thanks Mark
The graphs in the report are a bit abstract and very dull - try the one I referred to..
4. mark said...
what is intersting whilst mortgage lending drops, credit card lending is on the up.... wonder why???? Inflation maybe? You know people trying to live...lol
5. little professor said...
6. pelethar said...
Nice one LP and UT. Is there a graph showing the drop in BTL lending referred to above?
7. ftb maybe one day said...
Mark in answer to your "what is intersting whilst mortgage lending drops, credit card lending is on the up.... wonder why????", how about people thinking they can cover their increased mortgage costs in the short term with ther credit card? Kind of keeping their eyes closed!
8. little professor said...
@pelethar - I don't know which figures Thedman was referring to - they aren't part of the BoE data.
9. uncle tom said...
Thanks LP - don't know why, but my 'puter won't let me put anything but plain text on this blog..
10. stillthinking said...
Deflation.
11. pelethar said...
Is the graph total gross lending for mortgages, or just for house purchases, or what?
12. last_days_of_disco said...
@stillthinking
Its deflation. Our monolithic consensus is being tested to the core. Surely only inflation happens. Really really.
That's why we can't see it or accept it. Its beyond our personal experience (well most of us ;-)). It changes all the rules of business and how you make money.
I find it hard even to imagine what to do about it. Hold cash, watch it get worth more, then invest it in stuff when the deflationary crash is over.
Hope your countries leaders don't opt for hyper-inflation.
13. Bobby9983 said...
These figures are for net (new) lending. Gross lending is back to 2004 levels presently.