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Bruce Banner

Net Mortgage Lending Slumped To £!.83Bn In April.

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Finally! Remeber this date 26.05.2010.

After years of waiting the housing crash in the UK has started big time.

:D

(unless the government comes up with some really dirty tricks, but I doubt that)

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"Spring Mortgage lending subdued" is the headline on the Beeb news web site, but when I click the link "404".

That's a good way to ensure no bad news :lol:

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This is the lowest level since 2001.

About right then considering what damage has been done to the economy via finanical manipulation and driving the real economy abroad. Actually, maybe it should be lower, a lot lowe, in fact maybe this country cannot go on borrowing beyond its ability to generate income.

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QUOTE from BBA report:

As a consequence, net mortgage lending grew
by only £1.8bn in April compared with
£2.3bn in March, and was below the
previous six month average.

And that during the usual peak buying season. What hope does our grossly overpriced housing market have?

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the BBC are trying to spin the story but it's hard to spin figures that bad... That's why it takes so long... :lol:

bbct.gif

It's been over 10 mins and the link is still broken... :P

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It's been over 10 mins and the link is still broken... :P

Conversation overheard between Nationwide and Ministry of Propaganda:

"We need a joint approach to this. We can't go on spinning bad news as they will cotton on to us and we may then see a selling panic. Let's give Halifax a call to see if we can coordinate the news to make it look like house prices are still rising."

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QUOTE from BBA report:

As a consequence, net mortgage lending grew
by only £1.8bn in April compared with
£2.3bn in March, and was below the
previous six month average.

And that during the usual peak buying season. What hope does our grossly overpriced housing market have?

How can it have grown in April if the figure is less than the one in March?

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15 mins and still this on the front page:

bbc1.jpg

The picture got replaced (from 'mortgage application form' to 'signs') but still no story :P :

bbc2.gif

Come on BBC, spin faster!

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http://news.sky.com/skynews/Home/Business/Net-Mortgage-Lending-At-9-Year-Low-April-Advances-Total-183bn-Says-British-Bankers-Association/Article/201005415638533?lpos=Business_Carousel_Region_2&lid=ARTICLE_15638533_Net_Mortgage_Lending_At_9-Year_Low%3A_April_Advances_Total_%3F1.83bn_Says_British_Bankers_Association

The low figure follows a depressed rate of mortgage approvals since the turn of the year.

This has been put down to to a combination of the end of the stamp duty holiday, the severe winter weather and the uncertainty created by the general election, all of which have limited activity in the housing market.

:lol::lol:

.

Edited by Bruce Banner

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The picture got replaced (from 'mortgage application form' to 'signs') but still no story :P :

bbc2.gif

Come on BBC, spin faster!

20 mins and the link still broken...

This delay would never happen, if the lending figures released were record high.

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Sky News:

The low figure follows a depressed rate of mortgage approvals since the turn of the year.

This has been put down to to a combination of the end of the stamp duty holiday, the severe winter weather and the uncertainty created by the general election, all of which have limited activity in the housing market.

Ha ha ha ha ha ha

Winter Weather? That was in January. The figures are for April. I have never heard so much BS in my life. What we going to do blame Octobers fall on "previous winter weather".

Uncertainty created by general election? Come on for ***ks sake. That is hardly going to deter you from buying a house.

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20 mins and the link still broken...

This delay would never happen, if the lending figures released were record high.

Finally... http://news.bbc.co.uk/1/hi/business/10152731.stm

And here goes the BBC spin (remeber it took them over 20mins to write those two sentences):

There was little sign of the traditional "spring bounce" as the number of mortgages approved remained relatively unchanged.

The number of home loans approved for house purchases stood at 35,729 in April, up 685 on March, the British Bankers' Association (BBA) said.

(...)

The number of mortgages approved for house purchases was down on the previous six month average of 39,309, although the figure was higher than the same month a year ago.

_47925462_flower.jpg

:blink::blink::blink::blink:

Edited by Pole

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Looking at the numbers, there was big upswing after April 09 and there is the distinct possibility that lending will be down compared to last year once the May figures arrive.

The general election campaign was in full swing for the whole of Apri, so if this did put people off then the impact will be more keenly felt in May.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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