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Cml: Mortgage Lending Up Modestly In May

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http://www.cml.org.uk/cml/media/press/2664

Borrowers moving home in May saw their mortgage interest payments accounting for the lowest proportion of their income in 35 years, according to new data from the Council of Mortgage Lenders. And house purchase lending rose from a year ago for the 11th consecutive month. But with the challenging economic backdrop, government spending cuts and forthcoming tax increases the positive trend is likely to tail off in the second half of this year. Monthly comparisons with a year earlier will probably be near zero or modestly negative over the coming months. This is because we had an improving market in the second half of 2009 as the stamp duty holiday came to an end.

House purchase lending rose modestly in May. The 42,000 loans (worth £6 billion) were up 2% in volume and 3% in value on April and 15% in volume and 28% in value from a year earlier.

Remortgaging activity recovered a little as well in May. The 26,000 loans (worth £3.2 billion) were up 6% by volume and 10% by value on May but down 14% by volume and by value on a year earlier.

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Marginally lower prices result in marginally higher transactions ?

I think it's just slight seasonal increase. We can rest assured that this is no where near enough to meet the surging supply :D

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I think it's just slight seasonal increase. We can rest assured that this is no where near enough to meet the surging supply :D

The seasonally adjusted BOE figures are a better indicator. Released In a couple of weeks.

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Just to add a bit more info. Last year in may saw a 4% rise.

April 2010 saw a 9% fall. (because of Easter you understand)

So still a fair bit below marchs high of 45000. It's not looking good :)

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Just to add a bit more info. Last year in may saw a 4% rise.

April 2010 saw a 9% fall. (because of Easter you understand)

So still a fair bit below marchs high of 45000. It's not looking good :)

And yet the figure is still up and while theres certainly not any indication it represents strength there is equally nothing there to refelct weakness or an imminent fall.... but still the VI HPC'ers desperate for the long heralded crash seek to spin it as a portent of doom... whatever it is it certainly isn't that.

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And yet the figure is still up and while theres certainly not any indication it represents strength there is equally nothing there to refelct weakness or an imminent fall.... but still the VI HPC'ers desperate for the long heralded crash seek to spin it as a portent of doom... whatever it is it certainly isn't that.

unlike B0fA..(couldnt happen here) booking mortgages theyd already sold as sales rather than rebuys.....our banks would only ever report properly...

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"Movers spend lowest ever average proportion of income on their mortgages"

Shouldnt that read "As lending criteria tighten mortgage appilicants lie about their income by the greatest amount ever"

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unlike B0fA..(couldnt happen here) booking mortgages theyd already sold as sales rather than rebuys.....our banks would only ever report properly...

I doubt you'll fidn evidence of any manipulation here unless you are well to the crazy end of the conspiracy theorists... why not just reflect on the figures for what they are .. unhelful either way, rather than trying to spin them unconvincingly.

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And yet the figure is still up and while theres certainly not any indication it represents strength there is equally nothing there to refelct weakness or an imminent fall.... but still the VI HPC'ers desperate for the long heralded crash seek to spin it as a portent of doom... whatever it is it certainly isn't that.

Oh I'm afraid it is Mr Harrison.

You see with stock levels surging:

http://propertytalklive.co.uk/house-prices/3853-uk-asking-prices-stall-as-property-floods-the-market

A combination of sellers wanting to take advantage of recent price growth and renewed confidence following the budget has caused a flood of sales property onto the market. Stock levels grew 6% in July from June and there is now 43% more property on the market in the UK than in January 2010

A mere 2% per month increase in mortgages is no where near enough to match the supply, I can't see cash buyers taking up the slack either so the obvious conclusion to make from this is downward pressure on prices. Which is now showing up in the majority of house price indicies.

Supply and demand innit B)

Edited by Pent Up

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I doubt you'll fidn evidence of any manipulation here unless you are well to the crazy end of the conspiracy theorists... why not just reflect on the figures for what they are .. unhelful either way, rather than trying to spin them unconvincingly.

:rolleyes:

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"Movers spend lowest ever average proportion of income on their mortgages"

Shouldnt that read "As lending criteria tighten mortgage appilicants lie about their income by the greatest amount ever"

Or only the rich are moving?

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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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