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Realistbear

Banks Say Lending Down But Robberies Up

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Banks say lending down and robberies up in 2009

14:35, Wednesday 7 July 2010
LONDON (
Reuters
) - Mortgage lending by British banks last year fell to the lowest net level since 2000 and bank robberies rose for the first time in seven years as the economic recession took its toll.
Net mortgage lending by British banks fell to 36.3 billion pounds last year, compared with 59.4 billion the year before and almost 80 billion in 2006, according to data released by the British Bankers' Association on Wednesday.
The BBA said banks were at least net lenders. Overall net mortgage lending last year was 7.8 billion pounds, as lending by building societies contracted by 7.6 billion pounds and specialist lenders withdrew 22.4 billion pounds.
Loans by specialists, including buy-to-let and sub-prime loan providers, contracted by a net 48 billion pounds in the last two years after helping fuel the property boom that contributed to the financial crisis.
There were 114 bank robberies last year, up 10 percent from 2008, BBA data showed.

So 80bn of housing debt created in 2006 compared with 36bn in 2009. Quite a sharp decline which should suggest that the HPC is on track.

As for robberies, the bonuses are a form of robbery based on fraudulent and/or reckless transactions of pieces of paper that have no value yet purport to have value--and I don't mean Sterling banknotes as you can still use these to buy stuff.

Edited by Realistbear

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  • 258 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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