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Cml Mortgage Approvals -9% Mom In April 2010

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http://www.cml.org.uk/cml/media/press/2639

Lowest share of house purchase market for first-time buyers since 2007.

15 Jun 10

First-time buyers made up the lowest proportion of house purchase loans since September 2007, according to new data released today by the Council of Mortgage Lenders. They accounted for 35% of all house purchase mortgages, down from 39% in March and 38% in April 2009. The low share of the market shows that getting a mortgage remains problematic for first-time buyers who tend not to have a substantial deposit. 

Overall, there were 40,000 loans advanced for house purchase in April worth £5.7 billion, down from 45,000 (worth £6.3 billion) in March but up from 35,000 (worth £4.5 billion) in April 2009. April's seasonal dip was expected due to the Easter break and the underlying trend is of a gradual recovery in house purchase lending.

it was Easter what done it!

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Commenting on today's data, Michael Coogan, director general of the CML, said:

"Easter traditionally causes a dampening of lending levels and this year was no exception."

:lol:

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I expect the world cup will end up being this month's excuse.

So it looks like it is only the cash rich keeping the property sales going now.

It has been a stinker of a year hasnt it?! We have had a bit of snow, Easter was early/late, there was the ash cloud, and now the World Cup I am amazed anyone has time to do anything let alone thinking of moving house, hopefully we will have a wet/dry/hot/cold* summer to give them some more excuses for the market stuttering.

Never once will the media come to the right conclusion that house prices are just too effing expensive for ordinary people.

*delete as appropriate.

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I think the CML have their sums wrong.

A fall of 5000 from 45,000 is more like -11% than -9%.

-11% MoM... Does that count as a collapse?

Edited by Timm

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I think the CML have their sums wrong.

A fall of 5000 from 45,000 is more like -11% than -9%.

-11% MoM... Does that count as a collapse?

That'd right. Surely they couldn't have made such a blatant error?

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I don't know how they calculate this as last month was wrong aswell. 35k to 45k they have as a 24% increase when it's 28%.

I might email them.

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I think the CML have their sums wrong.

A fall of 5000 from 45,000 is more like -11% than -9%.

-11% MoM... Does that count as a collapse?

Here's why:

Hi *pent up*

 

Thanks for your email.

 

The reason your calculation is different is because the figures we use in the press release are rounded up or down as necessary but our calculations are taken from the actual figures.

 

Kind regards

 

Jayne

 

Jayne Chichester

Press Officer

Council of Mortgage Lenders

Tel: 020 7438 8922

Website: www.cml.org.uk

so ignore the figures they give just go by the percentage.

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+1 for following it up.

-9% : still not to be sniffed at! wink.gif

Yes indeed!

(On both counts).

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  • 261 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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