The Masked Tulip Report post Posted February 10, 2011 Get some comments in. Britain loses the moving bug: Mortgage approval rates slump again as first-time buyer crisis sparks new recession fears Read more: http://www.dailymail.co.uk/news/article-1355549/Mortgage-approval-rates-plummet-wake-credit-crunch.html#ixzz1DZYBqPV9 Quote Share this post Link to post Share on other sites
EmmaRoid Report post Posted February 10, 2011 I would say prices are too high. Burn the heretic! Quote Share this post Link to post Share on other sites
Pent Up Report post Posted February 10, 2011 Where are they getting their data from? Today's figures, from the British Bankers' Association,... dipping again to 30,766 in October 2010. What numbers from the BBA? Their latest release was 26th January with Decembers figures. Showing the number of approvals at 28,726. http://www.bba.org.uk/download/6427 Quote Share this post Link to post Share on other sites
Georgia O'Keeffe Report post Posted February 10, 2011 (edited) added mine.... im sorry thats just boll@cks, If the banks lent twice as much as 07 this year they could recapitalise through the profits If the banks lent twice as much as 07 this year the govt could repay their debt through increased tax take If the banks lent twice as much as 07 this year the popn could start releasing equity and get the economy moving again If the banks lent twice as much as 07this year the problem is effectively fixed The problems remains DIRE lack of LOANS Edited February 10, 2011 by Tamara De Lempicka Quote Share this post Link to post Share on other sites
Riedquat Report post Posted February 10, 2011 (edited) The real problem is that some idiots still upset the entire system by trying to earn a living. As soon as these damaging morons are removed from society then we can scrap this "job" nonsense for good, everyone can borrow money for as much junk as they like, and the economy will be running as it's meant to. The whole problem is that mortgages are slumping because some people are attempting to foolishly confuse the banks with such concepts as "paying it back". They tried to ease us past this with liar loans, but some people just don't understand. Edited February 10, 2011 by Riedquat Quote Share this post Link to post Share on other sites
Djini Report post Posted February 10, 2011 You know it's coming to London! Boris is recruiting more Police. The Government is obviously expecting us Brits to go all Egypt on their asses any time soon. People are going to be pissed, not at their own stupidity at over-reaching their debts, but at the government for 'creating a recession' instead of letting us continue to just keep on borrowing. Quote Share this post Link to post Share on other sites
Patfig Report post Posted February 10, 2011 You know it's coming to London! Boris is recruiting more Police. The Government is obviously expecting us Brits to go all Egypt on their asses any time soon. People are going to be pissed, not at their own stupidity at over-reaching their debts, but at the government for 'creating a recession' instead of letting us continue to just keep on borrowing. I thought the governemnt were sacking 10,000 rozzers? Quote Share this post Link to post Share on other sites
aa3 Report post Posted February 10, 2011 A lot of people also believed if they bought a more expensive house with better kitchen cabinets and an extra bathroom that they would be happy. That people would like them more, they would be fulfilled. But 4 days after they moved in, they felt the same as in their old house. So now they have done the upgrade and know its a giant pain, and giant cost. So its harder to convince them to upgrade again. Its like vacationing, people believe they will be happy if they go on a trip. But wherever they go, there they are. Quote Share this post Link to post Share on other sites
mfp123 Report post Posted February 10, 2011 (edited) im sorry thats just boll@cks, If the banks lent twice as much as 07 this year they could recapitalise through the profits If the banks lent twice as much as 07 this year the govt could repay their debt through increased tax take If the banks lent twice as much as 07 this year the popn could start releasing equity and get the economy moving again If the banks lent twice as much as 07this year the problem is effectively fixed The problems remains DIRE lack of LOANS why do you think banks wont create new loans? they are in the business of making money. the reason why they got wiped out before is because people defaulted on their mortgages. after all this time you still havent worked that one out. where have you been the last 4 years? if an average couple asked to borrow £350,000 of your money to purchase a semi detatched house in a run down area, how confident are you that youll get your money back? the reason theyre not lending and are asking for big depsosits is because they know that the prices are too high. its too risky. every loan carries a risk premium, and with house prices where they are, its too high. if house prices were half of what they are now, you would see mortgage approvals go through left right and centre. Edited February 10, 2011 by mfp123 Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted February 10, 2011 im sorry thats just boll@cks, If the banks lent twice as much as 07 this year they could recapitalise through the profits If the banks lent twice as much as 07 this year the govt could repay their debt through increased tax take If the banks lent twice as much as 07 this year the popn could start releasing equity and get the economy moving again If the banks lent twice as much as 07this year the problem is effectively fixed The problems remains DIRE lack of LOANS DIRE DEBT needs a new font I feel Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 10, 2011 I'll report for re-programming in the morning. TRUTH LOANS.... Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted February 10, 2011 TRUTH LOANS.... Honest Arrears Quote Share this post Link to post Share on other sites
leafygardens Report post Posted February 10, 2011 I thought the governemnt were sacking 10,000 rozzers? According to 'Republic org UK' we could employ 10,000 extra Police (or 18 new schools etc.) for the cost of the Windsor Family/Monarchy. Fair Swap? Quote Share this post Link to post Share on other sites
Goat Report post Posted February 10, 2011 im sorry thats just boll@cks, If the banks lent twice as much as 07 this year they could recapitalise through the profits If the banks lent twice as much as 07 this year the govt could repay their debt through increased tax take If the banks lent twice as much as 07 this year the popn could start releasing equity and get the economy moving again If the banks lent twice as much as 07this year the problem is effectively fixed The problems remains DIRE lack of LOANS If the banks lent twice as much as 07 this year then nobody would be able repay them. Quote Share this post Link to post Share on other sites
Realistbear Report post Posted February 10, 2011 The housing bubble has made property in this country the most expensive in the world compared with wages. People simply cannot afford to pay 5 times average income for poor quality and under-sized properties. The market needs to crash in order for the correct relationship between prices and earnings to be attained. It is pointless the government trying to prop it up with artificially low interest rates and subsidies to help people remain in houses they paid far too much for in the first place. The market must be allowed to find its natural level which, based on current price to earnings levels, must drop by at least another 40%. Never again must we allow greedy banksters, irresponsible lenders and greedy multiple homeowners and BTL "entrepreneusrs" ruin our housing market and price millions out of owning a home. - Real Istbear, Brighton UK, 10/2/2011 19:44 Read more: http://www.dailymail.co.uk/news/article-1355549/Mortgage-approval-rates-plummet-wake-credit-crunch.html#ixzz1DaWgD6XK http://www.dailymail.co.uk/news/article-1355549/Mortgage-approval-rates-plummet-wake-credit-crunch.html#ixzz1DaWgD6XK' rel="external nofollow">Done my bit for the HPC cause for today. Quote Share this post Link to post Share on other sites
Georgia O'Keeffe Report post Posted February 10, 2011 (edited) If the banks lent twice as much as 07 this year then nobody would be able repay them. semantic, half glass full, talk the economy down nonsense, sometimes you just have to risk it for a biscuit Edited February 10, 2011 by Tamara De Lempicka Quote Share this post Link to post Share on other sites
EmmaRoid Report post Posted February 10, 2011 semantic, half glass full, talk the economy down nonsense, sometimes you just have to risk it for a biscuit You've turned bull, I must have missed the memo. Quote Share this post Link to post Share on other sites
euroscooby Report post Posted February 10, 2011 (edited) I thought the governemnt were sacking 10,000 rozzers? You cannot make a policeman redundant. Natural wastage only. Edited February 10, 2011 by euroscooby Quote Share this post Link to post Share on other sites
tomwatkins Report post Posted February 10, 2011 You cannot make a policeman redundant. Natural wastage only. Bit of a cop out wouldn't you say? Quote Share this post Link to post Share on other sites
plummet expert Report post Posted February 10, 2011 added mine.... Don't forget the Special Liquidity Scheme of £300 BILLION due to run out soon! Interest rates will be forced up this year. It's the only ingredient missing in a perfect storm to foce prices down. They are weak already, especially in the northern half of the country. Oh, and if the first quarter of this year is also a drop in GDP, then it is a double dip. I do hope not, but the balance of payments figures do not support the news that exports are powering away. Quote Share this post Link to post Share on other sites
cybernoid Report post Posted February 10, 2011 Bit of a cop out wouldn't you say? Quote Share this post Link to post Share on other sites
dryrot Report post Posted February 10, 2011 Done my bit for the HPC cause for today. Props to you and hotairmail - I voted for you both - but I enjoyed this one (#2 in most-approved comment) "Maybe nobody wants to buy an overpriced bird cage for a house and spend the rest of their lives in slavery to pay for it. - jonathan, surrey, 10/2/2011 " Quote Share this post Link to post Share on other sites
koala_bear Report post Posted February 10, 2011 Don't forget the Special Liquidity Scheme of £300 BILLION due to run out soon! Interest rates will be forced up this year. It's the only ingredient missing in a perfect storm to force prices down. They are weak already, especially in the northern half of the country. Oh, and if the first quarter of this year is also a drop in GDP, then it is a double dip. I do hope not, but the balance of payments figures do not support the news that exports are powering away. First scheduled SLS repayments due in April but certain banks have already started to pay off (i.e. Lloyds (HBoS)). Then there is CGS too which is repayable to HMT but not until after SLS is repaid but carries a higher IR than SLS so all the banks have been trying to pay down early too. Quote Share this post Link to post Share on other sites
plummet expert Report post Posted February 10, 2011 The housing bubble has made property in this country the most expensive in the world compared with wages. People simply cannot afford to pay 5 times average income for poor quality and under-sized properties. The market needs to crash in order for the correct relationship between prices and earnings to be attained. It is pointless the government trying to prop it up with artificially low interest rates and subsidies to help people remain in houses they paid far too much for in the first place. The market must be allowed to find its natural level which, based on current price to earnings levels, must drop by at least another 40%. Never again must we allow greedy banksters, irresponsible lenders and greedy multiple homeowners and BTL "entrepreneusrs" ruin our housing market and price millions out of owning a home. - Real Istbear, Brighton UK, 10/2/2011 19:44 Read more: http://www.dailymail.co.uk/news/article-1355549/Mortgage-approval-rates-plummet-wake-credit-crunch.html#ixzz1DaWgD6XK http://www.dailymail.co.uk/news/article-1355549/Mortgage-approval-rates-plummet-wake-credit-crunch.html#ixzz1DaWgD6XK' rel="external nofollow">Done my bit for the HPC cause for today. Well said RB. Just one thing! The highest priced homes in the world are now in Australia, compared to wages. The second highest is parts of Canada. The USA used to be high on this measure but has fallen right back. To quote Mr Ratbuildner (a well known housebuilder)...'People ask how I can build a 2 bed starter home and manage to flog it for £200k, about 5 to 7 times an average salary. Well, it's because the banks are stupid enough to lend the money and the building quality is absolute cra*p.' Quote Share this post Link to post Share on other sites
plummet expert Report post Posted February 10, 2011 (edited) You cannot make a policeman redundant. Natural wastage only. The Police have NO NEED to make any front line officers redundant. That is their scare tactic to try and water down the cuts to be imposed on them. They do however, have about 10,000 more frontline staff since 1997 and a budget about 97% larger. They also have a rediculous level of paperwork. The govt should simply find a way to disallow anything but cuts on the front line, whilst simplifying their other admin functions. The same moans ARE HERE from Town Halls. They will no doubt sack many helpful staff and maintain a chief excec on £200k plus. Well, I'll do it for £125k. Any councils that need me please let me know. I will then only cut the least useful bits to have the budget balance..or is that too obvious for the UK? Edited February 10, 2011 by plummet expert Quote Share this post Link to post Share on other sites
