Thursday, Jun 18, 2009
A long way from recovery
BBC News: Mortgage lending falls back again
Mortgage lending fell back in May, according to the latest figures from the Council of Mortgage Lenders (CML).
Gross lending totalled £10.3bn, which was 2% lower than in April and 58% lower than in May 2008.
The CML said that while lending for home buyers had been rising recently, lending to people changing their mortgage provider had dropped off.
Posted by df @ 04:26 PM (417 views) Add Comment
3 Comments
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1. brickormortis said...
Has anyone ever heard of double counting? For example, let's say that I register with an EA at the top of the street and with one at the bottom of the street. That's two registrations for one buyer and hey presto already the stats are looking a little shaky!
2. 51ck-6-51x said...
"This had led in turn to chains of house buyers breaking down, with approved mortgage deals more likely than before to be cancelled."
Ahh - so I should not be making low ball offers (like 33% below asking) I should offer asking and then gazump with the reason of "the lenders valuation was only your asking * 0.67")!
Learn something every day, thanks CML, BBC :)
3. 51ck-6-51x said...
"The National Association of Estate Agents said its members now had four times as many house-hunters as homes for sale. "
Always end with some spin :)