Thursday, Nov 20, 2008
Winter bounce !?!
Metro: Mortgage lending increases by 7%
Same facts as a post below this, just a slightly different spin ..."Mortgage lending rose by nearly 7% during October but it remained well down on 12 months ago, figures show. A total of £18.7 billion was advanced during the month, compared with just £17.5 billion during a "weak" September, the Council of Mortgage Lenders said. But the figure was still 44% lower than the £33.38 billion lent in October 2007, and it was also down on August's advances of £19.66 billion. Despite the increase in lending during October, the Council of Mortgage Lenders (CML) warned that demand was likely to remain subdued due to falling house prices and the deteriorating economy. " (I do like that last sentence. A lot!)
Posted by mark wadsworth @ 01:07 PM (568 views) Add Comment
4 Comments
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1. george monsoon said...
how much of this lending is re-mortgaging?
2. 51ck-6-51x said...
If I had to guess - virtually all of it. There are some deals out there where there were not last month.
3. fjcruiser said...
it is most likely all re-mortgaging. Next year 1.4Mil people are coming off their fixed rates, so the figures may look positive when in fact they are not. Propaganda stuff as usual.
4. Luckyjim said...
Wadsworth
You like a deteriorating economy ? A lot ?