buytoilet Posted October 20, 2010 Share Posted October 20, 2010 UK mortgage lending remained subdued last month, figures from the Council of Mortgage Lenders (CML) suggest. Total lending was £12bn in September, the lowest September total since 2000. http://www.bbc.co.uk/news/business-11581929 Quote Link to comment Share on other sites More sharing options...
moonriver Posted October 20, 2010 Share Posted October 20, 2010 UK mortgage lending remained subdued last month, figures from the Council of Mortgage Lenders (CML) suggest. Total lending was £12bn in September, the lowest September total since 2000. http://www.bbc.co.uk/news/business-11581929 CML describe this as being "subdued". This is a bit more than "subdued" lending I would of thought. Quote Link to comment Share on other sites More sharing options...
exiges Posted October 20, 2010 Share Posted October 20, 2010 But don't worry.. asking prices are rising !! Quote Link to comment Share on other sites More sharing options...
buytoilet Posted October 20, 2010 Author Share Posted October 20, 2010 But don't worry.. asking prices are rising !! Lowest in 10 years when house prices where half the price of today Quote Link to comment Share on other sites More sharing options...
Alan B'Stard MP Posted October 20, 2010 Share Posted October 20, 2010 Total lending was £12bn in September, the lowest September total since 2000. Inflation adjusted? Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted October 20, 2010 Share Posted October 20, 2010 CML describe this as being "subdued". 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. Quote Link to comment Share on other sites More sharing options...
buytoilet Posted October 20, 2010 Author Share Posted October 20, 2010 I can't find a pulse, he's not breathing... he's cold to the touch doctor, is he dead? No, just subdued. Full report here No mention of adjustment for inflation Quote Link to comment Share on other sites More sharing options...
exiges Posted October 20, 2010 Share Posted October 20, 2010 (edited) Inflation adjusted? Nope Spreadsheet here http://www.cml.org.uk/cml/filegrab/1gross-mortgage-lending-table-september-2010.xls?ref=7405 Using an RPI adjuster http://safalra.com/other/historical-uk-inflation-price-conversion/ £160bn in 2001 equates to £190bn in 2010. Edited October 20, 2010 by exiges Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 20, 2010 Share Posted October 20, 2010 Only 12 billion? Wasn't August someting like 37 billion, and July closer to 50 billion or do I have the wrong figures? Quote Link to comment Share on other sites More sharing options...
exiges Posted October 20, 2010 Share Posted October 20, 2010 (edited) 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 October 20, 2010 by exiges Quote Link to comment Share on other sites More sharing options...
Roost Posted October 20, 2010 Share Posted October 20, 2010 Nope Spreadsheet here http://www.cml.org.uk/cml/filegrab/1gross-mortgage-lending-table-september-2010.xls?ref=7405 Using an RPI adjuster http://safalra.com/other/historical-uk-inflation-price-conversion/ £160bn in 2001 equates to £190bn in 2010. 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%) Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted October 20, 2010 Share Posted October 20, 2010 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. Quote Link to comment Share on other sites More sharing options...
Quicken Posted October 20, 2010 Share Posted October 20, 2010 CML describe this as being "subdued". This is a bit more than "subdued" lending I would of thought. I think moribund would be a better word here. Q Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted October 20, 2010 Share Posted October 20, 2010 Nope Spreadsheet here http://www.cml.org.uk/cml/filegrab/1gross-mortgage-lending-table-september-2010.xls?ref=7405 Using an RPI adjuster http://safalra.com/other/historical-uk-inflation-price-conversion/ £160bn in 2001 equates to £190bn in 2010. 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. Quote Link to comment Share on other sites More sharing options...
Caveat Mortgagor Posted October 20, 2010 Share Posted October 20, 2010 . Quote Link to comment Share on other sites More sharing options...
exiges Posted October 20, 2010 Share Posted October 20, 2010 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. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted October 20, 2010 Share Posted October 20, 2010 Interesting. I think 2000/1 prices are what fair prices are. So the amount of lending is about right. Only volumes are about half what they should be and prices about twice what they should be. Quote Link to comment Share on other sites More sharing options...
bobthe~ Posted October 20, 2010 Share Posted October 20, 2010 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. Quote Link to comment Share on other sites More sharing options...
billybong Posted October 20, 2010 Share Posted October 20, 2010 "subdued" - paralysed more like. Quote Link to comment Share on other sites More sharing options...
buytoilet Posted October 21, 2010 Author Share Posted October 21, 2010 "subdued" - paralysed more like. agreed Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 21, 2010 Share Posted October 21, 2010 At least it looks that the Government is not throwing money at people to prop up the housing market. Quote Link to comment Share on other sites More sharing options...
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