Bruce Banner Posted May 26, 2010 Share Posted May 26, 2010 Breaking news, figures from BBA. Net mortgage lending slumped to £!.83Bn in april Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted May 26, 2010 Author Share Posted May 26, 2010 This is the lowest level since 2001. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 26, 2010 Share Posted May 26, 2010 How long before they get an EA on to say that this is all positive news? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 26, 2010 Share Posted May 26, 2010 Calm down. It is because the bank holiday falls later in the month that's all.* * Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 Finally! Remeber this date 26.05.2010. After years of waiting the housing crash in the UK has started big time. (unless the government comes up with some really dirty tricks, but I doubt that) Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted May 26, 2010 Author Share Posted May 26, 2010 http://www.bba.org.uk/content/1/c6/01/77/47/April_2010_Monthly_Statistics_Release.pdf Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted May 26, 2010 Share Posted May 26, 2010 "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 Quote Link to comment Share on other sites More sharing options...
heffsta Posted May 26, 2010 Share Posted May 26, 2010 Breaking news, figures from BBA. Net mortgage lending slumped to £!.83Bn in april The link on BBC is not working at the moment, updating it i suppose: http://news.bbc.co.uk/1/hi/business/10152731.stm Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted May 26, 2010 Share Posted May 26, 2010 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. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 26, 2010 Share Posted May 26, 2010 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? Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 The link on BBC is not working at the moment, updating it i suppose: http://news.bbc.co.uk/1/hi/business/10152731.stm the BBC are trying to spin the story but it's hard to spin figures that bad... That's why it takes so long... Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 the BBC are trying to spin the story but it's hard to spin figures that bad... That's why it takes so long... It's been over 10 mins and the link is still broken... Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 It's been over 10 mins and the link is still broken... 15 mins and still this on the front page: Quote Link to comment Share on other sites More sharing options...
Realistbear Posted May 26, 2010 Share Posted May 26, 2010 It's been over 10 mins and the link is still broken... 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." Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 26, 2010 Share Posted May 26, 2010 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? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 26, 2010 Share Posted May 26, 2010 the BBC are trying to spin the story but it's hard to spin figures that bad... That's why it takes so long... They have to wait for a view from the CML or an estate agent. Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 15 mins and still this on the front page: The picture got replaced (from 'mortgage application form' to 'signs') but still no story : Come on BBC, spin faster! Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted May 26, 2010 Author Share Posted May 26, 2010 (edited) 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. . Edited May 26, 2010 by Bruce Banner Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 The picture got replaced (from 'mortgage application form' to 'signs') but still no story : 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. Quote Link to comment Share on other sites More sharing options...
chris25 Posted May 26, 2010 Share Posted May 26, 2010 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. Quote Link to comment Share on other sites More sharing options...
Pole Posted May 26, 2010 Share Posted May 26, 2010 (edited) 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. Edited May 26, 2010 by Pole Quote Link to comment Share on other sites More sharing options...
Ben from Dover Posted May 26, 2010 Share Posted May 26, 2010 Calm down. It is because the bank holiday falls later in the month that's all.* Plus the hang-over from all of the snow over winter! * Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 26, 2010 Share Posted May 26, 2010 The spin from the BBC and Sky, whilst funny to us, will be believed by the majority. Quote Link to comment Share on other sites More sharing options...
Ben from Dover Posted May 26, 2010 Share Posted May 26, 2010 Don't forget the hang over from all the snow Quote Link to comment Share on other sites More sharing options...
BlackSwan Posted May 26, 2010 Share Posted May 26, 2010 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. Quote Link to comment Share on other sites More sharing options...
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