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cashinmattress

Uk Mortgage Lending Fell By £1 Billion In April

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UK mortgage lending fell by £1 billion in April

The revelation from the Council of Mortgage Lenders that funds set aside for approved UK mortgages in April fell by £1 billion to £10.4 billion compared to March has shocked many. However, while this figure in itself is very disappointing the fact that overall UK mortgage lending fell by 60% in the year to April 2009 is even more astounding. The month by month reduction finally kills any hopes of a short term recovery in the UK property market and will upset many investors and property experts who had hoped the end of the recession was nigh.

While the mortgage figures in the UK are becoming ever more difficult to understand and extrapolate data from, there is certainly a growing trend towards further declines in the property sector in the short to medium term. Despite the fact that mortgages have never been cheaper in recent history, UK base rates appear set to remain at 0.5% for some time to come and the government has significant control of the UK banking sector, this does not appear to be making much headway in the overall mortgage market.

Quite where UK mortgage lenders go from here remains to be seen as some have been more proactive than others in offering promotions and discounted rates. However, as we have covered on a number of occasions there are significant deposit requirements for the "better rates".

We all know you won't admit it, but you are wrong.

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"will upset many investors and property experts who had hoped the end of the recession was nigh".

why oh why does the end of the recession need to be wholly dependent on, and interconnected with, a resumption of an inexorable, unsustainable rise in property prices?

can't we make stuff.. sell stuff.. invent.. consult?

christ if houses were seen as less than the be all and end all, think of the money there's be for innovation, infrastructure, leisure...

the whole world has gone bonkers

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Will the people talking about green shoots now admit they have turned brown?

So mortgage lending down and transactions up. And the bulls think house prices are about to rise! :lol:

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Well, it doesn't come any clearer than that.

You won't get a peep out of the crazy gang in response to that one.

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Looks like the green shoots have been treated with roundup!

3312_flymo_compact_300_full_.jpg

:D

post-16847-1243280925_thumb.jpg

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why oh why does the end of the recession need to be wholly dependent on, and interconnected with, a resumption of an inexorable, unsustainable rise in property prices?

can't we make stuff.. sell stuff.. invent.. consult?

christ if houses were seen as less than the be all and end all, think of the money there's be for innovation, infrastructure, leisure...

the whole world has gone bonkers

And so ends the sermon. An economy that RELIES apon overpriced housing/over priced housing improvement/ overpriced commissions for selling/improving/financing houses and taxing/legislating the crap out of everyone involved to support ever growing numbers of public servants is bound to fail.

(Just try an explain the concept of a £20K conservatory to a Asian worker...under the premise of investment....LOL)

Welcome to the UK, the worlds biggest hedge fund on the wrong end of a very bad bet!

a HARSH WAKE UP CALL is coming....anything else is a political/economic miracle, I like the thought of miracles but I also like the proof... as I feel the same way bout faith and speculation.

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Well, it doesn't come any clearer than that.

Unless of course, a different set of figures shows UK mortgage lending INCREASING by 3 billion pounds in April. :lol:

UK BBA loans for house purchases are seen edging up to £29.0 billion in April from £26.0 billion the previous month.

Too bad. :lol:

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check HSBC and NR mortgage calculators. they will give you only 3.5 times of your income pa ... 50% falls from peak are eminent ...

Yes, and only "up to" 75% of the property value, AND they charge you an arrangement fee of £999 for a 3 year fixed rate of nearly 5%!!!

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WTF! I'm sure I read a post today that said lending was up this month. Is it just me or do the media sources put out two opposite stories. Some days I hear that Darling says the recession will end at Christmas, then I hear just a couple of days later that it will last for years. It's the same with the IMF. Either they need two stories so that one must be correct or they have the worst P.R in history.

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Unless of course, a different set of figures shows UK mortgage lending INCREASING by 3 billion pounds in April. :lol:

UK BBA loans for house purchases are seen edging up to £29.0 billion in April from £26.0 billion the previous month.

Too bad. :lol:

where's that quote from?

cos I think it's a mistake

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WTF! I'm sure I read a post today that said lending was up this month. Is it just me or do the media sources put out two opposite stories. Some days I hear that Darling says the recession will end at Christmas, then I hear just a couple of days later that it will last for years. It's the same with the IMF. Either they need two stories so that one must be correct or they have the worst P.R in history.

kind of, one of the articles is from the future, lovingly nursed in analysts' heads

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where's that quote from?

cos I think it's a mistake

Don't worry about it. McSpamish pulls headlines and factoids out of his greasy rump all the time. In laymans terms, it means he is FULL OF SHIT.

The OP is right. See for yourself.

http://www.newsnow.co.uk/h/?JavaScript=1&a...ortgage+lending

Today

UK mortgage lending fell by £1 billion in April FinancialAdvice.co.uk 12:10

In the last 7 days

Mortgage lending falls 9% London Stock Exchange (Press Release) - Investment 16:57 22-May-09

Mortgage lending — back to the future? Complinet - Securities 11:45 22-May-09 [source requires subscription]

Alliance & Leicester relaxes mortgage lending criteria Telegraph.co.uk - Personal Finance/Mortgages 09:34 22-May-09

Mortgage lending rates fall further in recession Belfast Telegraph - Property 08:43 22-May-09

Mortgage Lending Down Nine Per Cent Housing News 08:10 22-May-09

Mortgage lending falls 9% in a month to dash hopes for a bounce back in... The Daily Mail - News 01:30 22-May-09

Banking - Peru - IDB supports mortgage lending project for low income segments Business News Americas - Banking 21:22 21-May-09 [source requires subscription]

Mortgage lending slump dashes hopes of property market recovery Guardian Unlimited - Business - Economic 17:39 21-May-09

Research and Markets: Understanding the Legal Impact of New Mortgage Lending Legislation on Banking Lawyers... Business Wire (Press Release) 16:01 21-May-09 [source requires registration]

Mortgage lending down 9% in April Your Mortgage 14:57 21-May-09

New mortgage lending down 68pc in Q1 Business World 14:19 21-May-09

PMNew mortgage lending down over 60% Irish Examiner - Breaking News 14:07 21-May-09

New mortgage lending down over 60% The Irish News - News 14:04 21-May-09

Irish mortgage lending in Q1 2009 was down 43.5% on the previous quarter and 68.1%... finfacts.com 14:04 21-May-09

New mortgage lending down Gorey Echo - Front page news 13:46 21-May-09

Mortgage lending drops 9% Building Magazine - Housing 13:19 21-May-09

Mortgage lending falls 68% in first quarter The Irish Times - News 13:08 21-May-09

Mortgage lending falls by 9% in April FT.com - Your Money 12:51 21-May-09

Mortgage lending eases in April City AM 12:21 21-May-09

Mortgage lending fell again in April This is Money 12:18 21-May-09

Mortgage lending slumps 60 per cent in April The Times - Business 12:13 21-May-09

Mortgage lending continues to weaken - Bank of England 24dash.com 12:11 21-May-09

Mortgage lending down again ITN - Money News 11:48 21-May-09

Mortgage lending falls by 9% Guardian Unlimited 11:22 21-May-09

Mortgage Lending Down In April findaproperty.com 11:17 21-May-09

Mortgage lending falls 9% but retails figures rise in mixed news for the economy The Daily Mail - News 11:13 21-May-09

Mortgage lending down by 9 per cent Channel 4 - News 11:08 21-May-09

Mortgage lending down by £1bn in April Property Week 10:51 21-May-09

Mortgage lending down 60%, but long recovery may be starting MyFinances.co.uk 10:44 21-May-09

April mortgage lending down 9 per cent FTAdviser - Pensions 10:38 21-May-09

April mortgage lending down again CashQuestions.com 10:19 21-May-09

Mortgage lending slides 9% in a month Citywire.co.uk - Personal Investor 10:17 21-May-09

Mortgage lending falls 9% in a month Metro.co.uk 10:11 21-May-09

Mortgage lending fell by 9% during April housefund.co.uk 09:58 21-May-09

UK housing market: Mortgage lending slumps 9% 24dash.com 09:56 21-May-09

Total mortgage lending down again BBC - News 09:55 21-May-09

Homes blow as mortgage lending falls 9% in a month Metro.co.uk 09:54 21-May-09

UK mortgage lending down 60 pct y/y in April-CML interactive investor 09:54 21-May-09

Edited by cashinmattress

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did we get these same figures a few days ago?

or are these different?

Yep. Spamonmattress endlessly spamming the same old spam, different day.

And besides, it's wrong. Mortgage lending is UP by 3 billion in April.

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Yep. Spamonmattress endlessly spamming the same old spam, different day.

And besides, it's wrong. Mortgage lending is UP by 3 billion in April.

posting predictions as fact

fantasist

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