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Bba Mortgage Approvals July -2.5%

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Down from 34.8k to 33.7k much lower than the 35.3k forecast.

From forexfactory. http://www.forexfactory.com/calendar.php

Not unexpected, at least by us lot. Who the hell in their right mind would commit to buying a house in this current climate?

It would be interesting to see what percentage of this are new entrant to the market versus people shuffling from one house to another.

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Usual rubbish from the BBA http://www.bba.org.uk/download/4988

The annual growth in the banks' net mortgage lending is 4.1%, substantially ahead of the 0.9% for the whole mortgage market in June.

BBA statistics director, David Dooks said:

"Gross mortgage lending remains stable, although demand for mortgages continues to be subdued. The greater availability of properties for sale and slowing house price growth have not yet fed through to increased house purchase approvals.

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Usual rubbish from the BBA http://www.bba.org.uk/download/4988

the monied are getting mortgages...they still think that prices when rates are at their lowest is an oportunity.

most are priced out STILL.

course, if rates rise an inch, prices, based on credit, will fall a yard.

3 years ago, they could still lower rates, they could still IO, they could still LIAR LOAN and buy with a friend.

Now people like Charcol are saying get the family to chip in...its never been cheaper.

hes right, credit and gullibility has never been cheaper......that doesnt mean the assets they support are though.

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The data also show the average value of mortgages is falling. In July, the average mortgage value was stg148,500, down from stg150,600 9n June.

Interesting but consistency demands that we don't argue that this has anything to do with prices. (I know, you didn't say it did, I just want to avoid people over-interpreting)

Recently the figure has been rising and the consensus on this site is that this is not a sign of rising prices, but of less activity at the bottom end of the market.

So either the average value of mortgages says something about prices or it doesn't. If it doesn't when it's rising, it doesn't when it's falling.

Edited by Selling up

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Not unexpected, at least by us lot. Who the hell in their right mind would commit to buying a house in this current climate?

It would be interesting to see what percentage of this are new entrant to the market versus people shuffling from one house to another.

Growing perception seems to be we are at the top of the market and in for a prolonged slump in prices. Indeed, who would buy now?

Or more pertinent, how cheap and easy do the banks have to make credit in order to attract buyers? 0% finance and nothing to pay for the first year perhaps? (seems to work for DFS)......Free Credit

Interesting times again.

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This is actually getting quite widely reported. From sky news:

A subdued housing market saw the number of mortgages approved for home purchase fall in July for the second month in a row, the British Bankers' Association has said.
A total of 33,698 loans were in the pipeline for people moving house, 2.5% less than in June, and well down on the recent high of 45,415 reached in December.

I wonder if the BBC are covering it?

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This is actually getting quite widely reported. From sky news:

A subdued housing market saw the number of mortgages approved for home purchase fall in July for the second month in a row, the British Bankers' Association has said.
A total of 33,698 loans were in the pipeline for people moving house, 2.5% less than in June, and well down on the recent high of 45,415 reached in December.

I wonder if the BBC are covering it?

Dont be silly. They have much more important priorities such as trying to hide the Stig's identity

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Dont be silly. They have much more important priorities such as trying to hide the Stig's identity

..that and showing pretty teenagers opening their exam results (why do they not show spotty geeks doing the same?)

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..that and showing pretty teenagers opening their exam results (why do they not show spotty geeks doing the same?)

And a interviewing the people who's cat got put in a wheelie bin.

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  • 143 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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