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Hold Your Hpc Horses - Mortgage Lending Hits Post '08 High

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From a VI source, but these figures are hard to ignore. Has a way been found past MMR regs already?


There were £19.1bn worth of home purchase mortgages in July – the highest monthly figure since the property market collapsed in August 2008.

According to the Council of Mortgage Lenders, lending to home buyers was 7% higher in July than in June, and up 15% on July last year.

In August 2008, lending for house purchase was £19.3bn.

The CML said it concludes that a “robust market” is emerging after the Mortgage Market Review.

However, the organisation’s analyst Caroline Offord said: “The eventual impact [of MMR] remains uncertain.

“Property transactions in the first half of the year showed a 25% increase compared to the same period a year ago, but we expect that intensifying affordability pressures could start to dampen this upward trend.”

http://www.propertyindustryeye.com/mortgage-lending-house-purchase-highest-since-2008/

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From a VI source, but these figures are hard to ignore. Has a way been found past MMR regs already?

http://www.propertyindustryeye.com/mortgage-lending-house-purchase-highest-since-2008/

How come land registry sales volumes are still approx half of the 2007/2008 levels ?

Are some egyts paying twice as much for a house ( in london ) ?

#TheyAreF8cked

Edited by TheCountOfNowhere

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How come land registry sales volumes are still approx half of the 2007/2008 levels ?

Highest since ...

Half the level of ...

No contradiction there. You just need to apply elementary logic.

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From a VI source, but these figures are hard to ignore. Has a way been found past MMR regs already?

There were £19.1bn worth of home purchase mortgages in July – the highest monthly figure since the property market collapsed in August 2008.

http://www.propertyindustryeye.com/mortgage-lending-house-purchase-highest-since-2008/

They weren't all home purchase mortgages.

This is gross mortgage lending, which includes remortgages and other secured loans (e.g. home improvement). Also the figure is not seasonally adjusted.

Until we get a breakdown it's hard to draw any conclusions.

HMRC published residential transactions for July today, showing SA sales hovering around the 100K level.

Notably the NSA figure was 110K, the highest number of monthly transactions since Nov 2007. Seasonal adjustment tells a different story.

HMRCtrans0714.gif

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From a VI source, but these figures are hard to ignore. Has a way been found past MMR regs already?

http://www.propertyindustryeye.com/mortgage-lending-house-purchase-highest-since-2008/

You'd expect mortgage lending to be consistent with the price/volume action which has been heading higher for some time.

The issue to watch is the supply/asking/sale price action in London.Everything else is noise.Some places look to be in the inital stages of topping out,others(ie most of the country ) don't.But london leads everything these days,not least the national averages.

Edited by Sancho Panza

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You'd expect mortgage lending to be consistent with the price/volume action which has been heading higher for some time.

The issue to watch is the supply/asking/sale price action in London.Everything else is noise.Some places look to be in the inital stages of topping out,others(ie most of the country ) don't.But london leads everything these days,not least the national averages COLLAPSE

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I have suspected that there would be a last hurrah in June/July and August as people desperately spend their pre MMR approved mortgages on anything that they can buy. If they don;t spend their pre May approved mortgage withing the 3 months they will be locked out of the market forever ;)

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I have suspected that there would be a last hurrah in June/July and August as people desperately spend their pre MMR approved mortgages on anything that they can buy. If they don;t spend their pre May approved mortgage withing the 3 months they will be locked out of the market forever ;)

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