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Mortgage Lending In Fresh Decline

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CML describe this as being "subdued". :rolleyes:

This is a bit more than "subdued" lending I would of thought.

I can't find a pulse, he's not breathing... he's cold to the touch doctor, is he dead?

No, just subdued.

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Only 12 billion?

Wasn't August someting like 37 billion, and July closer to 50 billion or do I have the wrong figures?

You're probably looking/thinking of quarterly amounts

Sep 12,879

Oct 13,585

Nov 12,308

Dec 13,596

2010 Jan 8,635

Feb 9,260

Mar 11,338

Apr 10,259

May 11,139

Jun 12,944

Jul 13,293

Aug 12,095

Sepest 11,980

Edited by exiges

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Wow thats actually huge news... Although it doesn't make as good a tabloid story as the indexes do!

Surely such a small figure would explain the increased volatility we have been seeing in indexes (Halifax -3.6%, Rightmove Ask +3.whatever%)

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You're probably looking/thinking of quarterly amounts

Sep 12,879

Oct 13,585

Nov 12,308

Dec 13,596

2010 Jan 8,635

Feb 9,260

Mar 11,338

Apr 10,259

May 11,139

Jun 12,944

Jul 13,293

Aug 12,095

Sepest 11,980

Thanks - makes sense.

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I would prefer to see an "HPI Adjuster." then we would see how many houses were sold compared to 2000.

But if these are gross figures, they are not as important as the Net figures. IIRC, for a re-mortgage they don't take into account the amount of the original loan which may be paid back when a re-mortgage (for instance from one lender to another) takes place.

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I would prefer to see an "HPI Adjuster." then we would see how many houses were sold compared to 2000.

A property located in UK which was valued at £160,000 in Q1 of 2001, would be worth approximately £318,860 in Q3 of 2010. This is equivalent to a change of 99.29%. (source: http://www.nationwide.co.uk/mortgages/calculators/housepriceworth.htm)

So, effectively £160bn would have bought 1,000,000 houses

Today, it would buy 501,800 houses.

So effectively half the number of houses.

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A property located in UK which was valued at £160,000 in Q1 of 2001, would be worth approximately £318,860 in Q3 of 2010. This is equivalent to a change of 99.29%. (source: http://www.nationwide.co.uk/mortgages/calculators/housepriceworth.htm)

So, effectively £160bn would have bought 1,000,000 houses

Today, it would buy 501,800 houses.

So effectively half the number of houses.

Thanks very much. I wasn't expecting you to do the maths. :)

So broadly speaking half the number of houses than 10 years ago.

Although I would wager that the level of remortgages was less 10 years ago, as well, which probably pushes the numbers down even more.

Of course this is all moot, because they also publish mortgage approval numbers as well as amounts. :)

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At least it looks that the Government is not throwing money at people to prop up the housing market.

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  • 145 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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