Jump to content
House Price Crash Forum
Sign in to follow this  
rantnrave

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

Recommended Posts

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/

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

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 ;)

Share this post


Link to post
Share on other sites

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 ;)

emoticon.jpg

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 404 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.