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Realistbear

C M L Report 12% Drop In Loans To New Buyers

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http://uk.finance.yahoo.com/news/Drop-mortgage-lending-last-tele-4134782509.html?x=0

Drop in mortgage lending since last year
Myra Butterworth, 13:01, Friday 8 April 2011
The freeze on mortgage lending shows little sign of thawing as figures reveal the number of home loans approved fell more than 10 per cent in a year.
The latest lending figures from the Council of Mortgage Lenders shows the number of
mortgages approved for new buyers dropped 12 per cent to during the year to February.
Lenders have continued to demand significant deposits since the beginning of the credit crisis amid fears that home owners will default on their loans.

Lenders want super-sized deposits to gurard against a super-sized crash. They know it makes sense.

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BBC News reported this in a bullish manner this morning with the cheerful business presenter saying that mortgage lending was up 8% from last month as more first time buyers "got a foot on the ladder". He mentioned quietly, at the end, that the figure was down 12% from a year ago.

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:lol: There was some spin from the CML on BBC this morning claiming mortgage lending was up in March. Cherry picked sound bite or what?

Did they also mention that March was warmer than February? <_<

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BBC News reported this in a bullish manner this morning with the cheerful business presenter saying that mortgage lending was up 8% from last month as more first time buyers "got a foot on the ladder". He mentioned quietly, at the end, that the figure was down 12% from a year ago.

And I'll bet he forgot to mention that the previous month, the figures dropped around 28% so this was just a feeble clawing back of some of that - ahem - pent up demand.

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And I'll bet he forgot to mention that the previous month, the figures dropped around 28% so this was just a feeble clawing back of some of that - ahem - pent up demand.

And they NEVER mention that last month's figures are nearly always revised downwards, making it look as though this month's figures are better...

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yes, but we are not winning :(

Like the Dominion War in Star Trek DS9 we will be victorious - but the price paid to achieve it will be more than we would ever have been willing to pay.

We shall not drink blood wine on the ruins of Cardassia to our victory.

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no, they flat. They stopped falling.ZIRP, Mortage Support Schemes... :angry:

ZIRP and mortgage support can't help now. Pick any up to date index, they are all negative YoY.

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  • 309 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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