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Ash4781

Uk Bba Loans For House Purchases

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what effect does Easter have on approvals?

I'd have thought it would increase numbers as buyers would be out in force, but a recent CML press release said Easter was the reason for a fall

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http://www.hemscott.com/news/comment-archi...tem.do?id=69708

due Wednesday. I haven't followed these figures. Would that be low compared to APR'07, APR '08 ?

Last month:

All measures of mortgage lending were slightly weaker in March than in February, with the £8.9bn of gross mortgage lending at its lowest level since April 2001. This was also down 47% on March 2008.

British Bankers' Association (BBA) which showed the number of mortgages approved for house purchases in March fell 6.8% from February to 26,097 - signalling a year-on-year drop of 25%.

Has anyone got BBA stats / chart showing year on year approvals and lending? Actually there is one here amongst all the others:

BBA Figures

Mortgage approvals are one of the most important early indicators of housing market activity. For the past six months they have been down 50 per cent on the levels in 2007 and the monthly totals are by far the lowest recorded by the British Bankers Association (BBA) since it started publishing the figures in 1997

We could do with stats month on month in readiness to respond to Rinao and McTavish if the figure show a 0.01% increase!

When are the CML APPROVAL figures for April out?

Edited by Sybil13

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Up again ~ around 3% seasonally adjusted.

at this rate your will reach a nutral level in 6 to 12 months, with 6 more months of falls after... In synopsis minimum 1.5 years falls remaining, pace of falls will slow slightly over the next 6 months...Earliest trough date Jan 2011

Edited by moosetea

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The high street banks' net mortgage lending of £2.7bn has not been as low for some eight years and consequently, the trend edged lower.

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Up again ~ around 3% seasonally adjusted.

At 3% per month growth in approvals you should get back to crash level approvals in only 4 or 5 years. Of course the approvals will be for much lower values than pre-crash as prices will remain much lower.

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I'm waiting for bull spin on this. Up slightly on last month I think.

Against how many Rightmove reductions again?

Supply still chasing demand down the s-bend...

"It's like a nightmare, isn't it"

Edited by ParticleMan

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Up again ~ around 3% seasonally adjusted.

Up again suggests they rose last month as well.

They didn't - they fell.

We're still down 2.2% down on February.

Longer term chart:

BBAapprovals0409.gif

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Up again suggests they rose last month as well.

They didn't - they fell.

We're still down 2.2% down on February.

Longer term chart:

BBAapprovals0409.gif

Good chart. Anyone got anything going back further - lets say to around 88 just prior to last time around?

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