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shedfish

Cml Numbers On Bbc News

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The number of loans handed out for house purchases in the UK rose by 16% in April compared with the previous

month, according to lenders.

But the figure remains 28% down on the same month the previous year, the Council of Mortgage Lenders (CML) said.

The data adds further evidence to indications of a spring bounce in the housing market.

However, first-time buyers still have to put down an average deposit of 25% of the value of their new home.

Thanks!

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April?

Its JUNE FFS!

we ALL know there was a spring bounce, as always.

the spinners are out in force.

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Where the f**k is the spin!! there has been a rise get over it!

spin i show you where it is....spinning figures a month after they were first muted, One report show POSSIBLE rise in growth, and yet the ENTIRE media is fanfaring the lot.

Meanwhile, two of my customers are just about broke, one is "fragile" and one is doing well, the rest all cutting back. in preparation for the next leg of the recession.

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Stay Away From Property It Has Much Further to Fall

Let's start with the mortgage approval numbers. Yes, they are up. But not much. The long-term average since the series began in 1993 is 94,000 a month. So 38,000, a number that is 40% down on last year, is not very encouraging.....

...........

The truth is that all real bear markets tend to offer the unwary investor one last opportunity to lose money. The summer of 2009 is probably that opportunity this time round.

There may well be a quite a big pick up in inquiries, transactions and even prices over the next few months. This will be partly down to the fact that, for those who have cash and want to buy at some point, the housing bear market is getting boring – and partly because a lot of property looks cheap relative to its peak price.

But the basic market conditions are still all wrong for recovery

5 Reasons House Prices Will Fall Further

[

b]1 [/b] They may have ticked higher, but mortgage approvals are still 22% down on April 2008 and 60% below their 'pre-correction' levels, says Seema Shah of Capital Economics. That's "a long way off the 80,000 level that has historically been consistent with stable house prices", let alone values rising again.

Couple that with Homebuyers Left High & Dry as Lenders Cancel Mortgage Offers

Lenders are increasingly withdrawing written mortgage offers just before exchange, reports PPR, leaving chains in disarray and homebuyers and sellers in serious financial difficulties.

And:

Surveyors Valuations Reflect Where the Market is Heading

Doesn't sound like its anything to get excited about even if Hamish/ Sibley and Rinoa want to use it to fuel their fantasy boom ..........

Edited by Sybil13

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Mortgage approvals

35,600 in April, up 16%

no link yet, just on TV

meanwhile,

http://www.timesonline.co.uk/tol/money/pro...icle6471546.ece

Nationwide ups mortgage costs by up to 0.86%

Edited by Bear of little brain getting my approvals and loans muddled

No I think I am right its just the wording, last month:

The number of mortgage approvals rose for the second month in a row, but economists warned that house prices will fall further next year

A total of 39,230 loans were approved for those buying a home during March, a 4 per cent increase on the previous month

Ok that was BOE ........so that is CML + others isn't it?

Edited by Sybil13

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spin i show you where it is....spinning figures a month after they were first muted, One report show POSSIBLE rise in growth, and yet the ENTIRE media is fanfaring the lot.

Meanwhile, two of my customers are just about broke, one is "fragile" and one is doing well, the rest all cutting back. in preparation for the next leg of the recession.

I concur with learned friend Bloo Loo, its carnage out there in the world of business, but house prices are apparently rising, so thats good. :blink:

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Get back to me when they hit 70-80,000 as this is what's need to support rising house prices.

me too.

Zzzzzzzzzzzzzz....

<_<

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The only safe time to buy a house will be when ALL the banks, and not just Government run banks

start doing 95-100% mortgages. This is a 100% savvy.

Edit to add, in the meantime just keep building up your deposit if you only save £5,000 and house prices

fall another £20,000 as they will, that puts you up £25,000 on the year.

Edited by time 2 raise interest rates

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http://business.timesonline.co.uk/tol/busi...icle6477172.ece

However, the sharpest increase in home loans granted was for people moving property rather than to first-time buyers, who are generally regarded as providing the foundation for any sustained growth in housing activity. Some 22,100 loans were granted in April to people moving home, up 19 per cent on the March figure, while 13,500 loans went to first-time buyers — a less spectacular 13 per cent increase.

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The only safe time to buy a house will be when ALL the banks, and not just Government run banks

start doing 95-100% mortgages. This is a 100% savvy.

Agreed, and when they start cranking up the BTL "nice little earner" cash machine. Kerching.

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bbc

Edit to add CML

:)

Number of loans for house purchases down 28% YOY.

Value of loans for house purchases down 40% YOY.

Wake me up again next month...

Edit: "35,600 house purchase loans in April, compared to an average of 88,000 loans in April over the last seven years."

Recovereh, yawn.

Edited by Hara

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bbc

Edit to add CML

:)

Thanks for that:

11 Jun 09

CML link above:

There was a modest improvement in the number of loans for house purchase. However, activity is still very low by historical standards with 35,600 house purchase loans in April, compared to an average of 88,000 loans in April over the last seven years.

Down from 10900 in April 2007 , wonder if that loss of £200bn in rmbs could be effecting lending?

Possibly why commenting on last week's lending data from the Bank of England, CML economist Paul Samter observed:

"It looks almost inevitable that May approvals will be higher than a year ago for the first time since early 2007. However, activity remains at extremely low levels on any historic comparison – and weaker than at any point in the early 1990s. Limited lending capacity and the impact of further job losses are likely to act as a ceiling for how far the improvement can continue"

zzzzzzzzzzzzzzzzzzzzzz

Edited by Sybil13

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Just for the numerically challenged, my maths indicates that with the number of loans down 28% and the value down 40%, house prices are down 16.6% YoY using CML stats.

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Guest pioneer31

If you monitor the 'stats' daily you will be forever calling different scenarios.

It's over

No it's not

Yes it is

Not quite it isn't, recovery in 6 mths

No make that 6 years.

No

yes

Is ANYONE familiar with the concept of fluctuations within an overall trend?

:rolleyes:

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