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Mortgage Lending Up 10% Yoy

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Good, now put up rates Merv

UK mortgage lending rose by 6% in August compared with July, although seasonal factors were key to the rise, lenders have said.

Gross mortgage lending stood at £13.4bn in August, a 10% increase compared with the same month a year ago, the Council of Mortgage Lenders (CML) said.

This was the highest monthly total since July 2009, the CML added.

It said fluctuations in recent months reflected seasonal factors and the picture overall was broadly stable.

Edited by exiges
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Peanuts you say? It is still a big percentage increase, and it all counts.

Still little sign of any crash overall. Falls in a few areas, but not enough to bring things tumbling down.

As always when you dig a little deeper, a different picture emerges...

July had seen a drop of 6% in mortgage lending compared with a year earlier, so Bob Pannell, CML chief economist, said that the rise in August offset this "weaker than expected" July figure.

"Taking July and August together, lending has shown little change on the same months of 2009 and 2010," he said.

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I'd be intrested to know how many of these mortgages are:



New Mortgage (FTBer)

existing mortgagee extending mortgage for a new [more expensive] property.

second/third mortgage

and what products they are going for

also it would be interesting to see how many people have gone over to their lenders SVR, due to not meeting current LTV levels required for a "deal"

as 2006 was 5 years ago, how many of the people who took out a mortgage then are at the end of their current deal and are now remortgaging.

same again with 2008 people (3 years ago)

and how many people are taking advantage of "locking" in a lower IR in the face of doom and gloom ecconomy news for another 3, 5 + years

Edited by Monkey
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  • 433 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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