Realistbear Posted June 20, 2011 Share Posted June 20, 2011 http://www.thisislondon.co.uk/standard-business/article-23962370-mortgage-lending-edges-up-but-market-gloom-continues.do Mortgage lending edges up, but market gloom continues 20 Jun 2011 Banks shook off a Royal Wedding hangover to boost mortgage lending in May, but there is little sign of a long-term revival in the market, the Council of Mortgage Lenders warned today. Gross mortgage lending - which includes loans for both house purchase and remortgaging - was 12% ahead of a sluggish April at £11.3 billion last month. But lending was just 1% up on a year earlier, building on the recent gloomy picture of market torpor seen in Halifax's house price index and the Royal Institution of Chartered Surveyors' latest survey. CML director Michael Coogan said: "The likelihood seems to be for essentially flat levels of lending over the next couple of months. " The amount of money lent for buying homes was down on a year ago, with the slight increase in lending overall being accounted for by existing homeowners remortgaging ." Doom and gloom for the commuters headed home after a hard days scamming in the City. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted June 20, 2011 Share Posted June 20, 2011 Meanwhile in the fantasy UK housing market sellers up their asking price by 0.6%, an average of £1,520. It's high time Mr Reality kicked the door in to this party, shut the music off and filled the punch bowl with sand. Quote Link to comment Share on other sites More sharing options...
inflating Posted June 20, 2011 Share Posted June 20, 2011 Sir Merv has induced the same hallucinatory delusions of merit in the masses of vendors as he has in himself, my word the padded cells will soon be bursting at this rate Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted June 20, 2011 Share Posted June 20, 2011 Aww, boo hoo. The BOE is pulling back credit whilst the underlying banks raise their interest rates. Boo, friggin, hoo. Every day is a lottery win for a banker. Quote Link to comment Share on other sites More sharing options...
mrpleasant Posted June 20, 2011 Share Posted June 20, 2011 "CML director Michael Coogan said: "The likelihood seems to be for essentially flat levels of lending over the next couple of months. " For a whole two months? Eeek! It really is a crisis. Quote Link to comment Share on other sites More sharing options...
Kazuya Posted June 21, 2011 Share Posted June 21, 2011 "CML director Michael Coogan said: "The likelihood seems to be for essentially flat levels of lending over the next couple of months. " For a whole two months? Eeek! It really is a crisis. Yep, no SPRING/SUMMER BOUNCE for the housing market Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.