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Mortgage Lending Increases 17%

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LONDON (Reuters) - Mortgage approvals for home purchases rose 17 percent on a year ago, data from the British Bankers' Association showed on Thursday in a further sign that activity in the property market has stabilised.

Approvals -- the number of loans agreed but not yet made and often viewed as a leading indicator of turnover in the property market -- rose to 70,105 in September from 69,499 in August and were up from 59,905 a year ago.

Approvals have been on the rise in recent months and appear to have been boosted further by the Bank of England's August interest rate cut to 4.5 percent.

So, no crash ! Analysts forecasting a HP Rise on CNBC.

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More debt = bigger consumer crunch to come.

They worried at a £1T and did nothing to stop rising debt, they worried at £1.1T and did the same. £1.2T approaching fast.

Consumer debt as a percentage of income must be beyond the levels of Japan of the late 80's by now - in the region of 150%.

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Guest consa

Re-mortgaging drove underlying mortgage lending higher, to reach the highest monthly total since March 2004.

"Two-year fixed rate loans taken during the buoyant period of 2003 were maturing around now and borrowers are seeking out new options," said BBA director of statistics David Dooks.

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LONDON (Reuters) - Mortgage approvals for home purchases rose 17 percent on a year ago, data from the British Bankers' Association showed on Thursday in a further sign that activity in the property market has stabilised.

Approvals -- the number of loans agreed but not yet made and often viewed as a leading indicator of turnover in the property market -- rose to 70,105 in September from 69,499 in August and were up from 59,905 a year ago.

Approvals have been on the rise in recent months and appear to have been boosted further by the Bank of England's August interest rate cut to 4.5 percent.

So, no crash ! Analysts forecasting a HP Rise on CNBC.

Further evidence of the market being YOY stronger. When mortgage approvals dropped massively end of 2004 / begining of 2005 all the bears said it was a sign of a HPC.

Now mortgage approvals have recovered to summer 2004 boom levels this is clearly further evidence the HPC has been cancelled.

Hope that Helps.

PG

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Further evidence of the market being YOY stronger. When mortgage approvals dropped massively end of 2004 / begining of 2005 all the bears said it was a sign of a HPC.

Now mortgage approvals have recovered to summer 2004 boom levels this is clearly further evidence the HPC has been cancelled.

Hope that Helps.

PG

PG...still waiting for my PM.

At what point exactly do we start to repay the mountain of debt? £2T £3T £10000000T

If the debt is being repaid, how does one have rising house prices and reducing debt?

For our capitalist system to function properly we must trust in our 'paper money' if we dont repay this debt then our system doesnt work!...and I'd hate to see where that takes us!

We cannot keep borrowing money ad infinitum. Surely PG, you must grasp that point.

Property cannot keep rising. It may buck the trend every 20 years or so, but it MUST return to the 'average' for our system to function.....unless they've invented a shiny new system where one can borrow forever with no likelyhood of ever being able to afford to pay it back. In which case, would you care to tell me what this new 'system' is called?

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  • 301 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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