Rebecca Jayne

Yes it is. Also announced today is Northern Rock increasing its lending next year from £4Bn to £9Bn.

There are far less defaults with UK mortgages than you wish to imply. The defaults that caused the demise of RBS were almost exclusively US RMBS.

I believe they have an arrangement with the government who have agreed to take care of their bad debts. That way they are free to use the £27Bn to help the economy. And increased housing transactions helps many industries.

<br /><br /><br />Wash your mouth out p-o-p.

If RBS has £27Bn it can't lend to business, that is a very significant sum. If companies don't require the £27Bn. maybe RBS will simply divert it into other areas eg. mortgages.

For those of us who weren't here this morning, what happened?

http://www.cml.org.uk/cml/media/press/2468 Remortgaging down. Mortgaging for house purchase up.

The credit crunch was global. It didn't occur due to UK mortgage lending. Other than from posters on HPC, there is no body of opinion suggesting its return.

Had it not been for the above I would have said +5 to +10%. Yes lending is still tight, but today the BoE reported another 10% rise in approvals, it's an improving situation.

Credit crunch stopped all lending. No lending = house prices fall. Govt measures restored lending = prices now rising once again. BoE lending report out today shows October approvals up 10% SA. The conditions causing the 2008 price falls no longer exist.

The causes of the 2008 crash have been resolved. 0 to +5%.

Hmmm OK. It's a little OTT.

The issue is oversubscribed. That means it's fully sold. The clue is in the title "Nationwide Success" with the likelihood that they will offer another issue earlier next year. They now have £3500,000,000 to lend out that they didn't have before. Isn't securitisation brilliant?

http://www.mortgagestrategy.co.uk/nationwide-securitisation-success-gives-it-the-taste-for-another-issue/1001451.article Could have sold double apparently. Where are all the smilies on this forum?

They've just secured a few billion from the RMBS market. You can stop wondering now.