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benjamin

Mortgage Lending Jumps, Reported Today

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Hi Starcrossed - Good to meet you the other night!

Also where I live after months of for sale boards there are many with sold on now.

Suckers Rally!

:)

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Aren't statistics fantastic? Reuters (disappointingly partial in its assessment) chose to highlight mortgage approvals - a nebulous figure at the best of times but chose to play down a £0.5 billion or over 10% reduction in underlying mortgage lending from September to October. Ho hum.

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sale agreed, isn't a done deal

chains still collapse, especially when the market is slow.

and especially when the FTB's only make 9% of the market

simply put these properties could hang around for months and in some cases years.

and people can still pull out if they get cold feet in the meantime, and they'll be plenty of that come the new year debt hangover and flagging economic outlook.

I'll give it till april / may, when everyone realises sipps is a dead duck and is not going to produce the spring bounce.

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Guest consa

90 000 mortgages is the stable monthly figure for the mortgage market, we are sat at approximately 20% below this figure hence indicating that the market is not very healthy at all, this will put downward pressure on prices unless they climb to the 90 000 figure pretty sharpish.

"So forget the spin it is still grim" :lol: (and I am a poet) :lol:

Also these have not completed yet and I doubt the actual figure will be close to this.

Edited by consa

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Guest Time 2 raise Interest Rates

I'm expecting a big jump in MEWing after Christmas, how else are

people going to pay their gas bills.

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Nail hit very firmly on head, quote from one of my sources in a very senior position within a high profile lender "this industry, the re-mortgage industry, is years away from saturation point" :(

Lovely line from the Nationwide "after a long period of price falls...". Still one VIs "price fall" is another's "period of stability" and another's (probably an EA) "excellent buying opportunity".

Smell the fear.

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Take a look at page 3 of the actual stats.

It is indeed a 23% increase in the number of loans approved for house purchase and not for re-mortgage. It is still a 20% decrease when compared to October 2003

Oct 2005: 72,328

Oct 2004: 59,011

Oct 2003: 90,718

Personally I think we are seeing the effect of the August rate cut and the expectation back in the summer of further rate cuts to come. Sentiment has reversed since then.

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  • 335 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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