koala_bear Posted March 17, 2015 Share Posted March 17, 2015 BBC using the "unexpected" word. http://m.bbc.co.uk/news/business-31924982 Mortgage lending to home buyers went through an unexpectedly large dip at the start of the year. The Council of Mortgage Lenders (CML) said just 41,400 home loans were granted in January to borrowers in the UK. That was 26% fewer than in December and, more importantly, 16% down from January last year. The number of loans made to first-time buyers was, at 19,000, the lowest monthly figure for 21 months. The UK property market has been cooling off off since last summer, with prices more or less flat in the past few months. The previous rapid rise in prices, along with the tighter regulation of mortgage lending, has shut some prospective buyers out of the market. Completed sales in November, December and January - the most recent months for which data is available - were down on a year ago. However, this lull is likely to be temporary, as figures from the Bank of England have shown that mortgage approvals for those months - the number of new loans approved but not yet lent - in fact started growing again gently. That suggests that sales will start to pick up again in the coming months. Paul Smee, director general of the CML, said: "The traditional beginning-of-year seasonal lull in lending is slightly more prominent in house purchase lending than in previous years, especially in comparison to the particularly strong levels at the start of 2014. "Affordability constraints remain a factor for would-be borrowers, but we are still projecting lending to pick up over the next few months," he added. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted March 17, 2015 Share Posted March 17, 2015 There is also some BTL numbers that show strong increase. The numbers seem to be very close to FTB numbers. Quote Link to comment Share on other sites More sharing options...
Digsby Posted March 17, 2015 Share Posted March 17, 2015 There is also some BTL numbers that show strong increase. The numbers seem to be very close to FTB numbers. Only in re-mortgaging though. BTL loans for house purchase were down 11.1% on the month, and down 5.6% on the year. Superb! Quote Link to comment Share on other sites More sharing options...
long time lurking Posted March 17, 2015 Share Posted March 17, 2015 Only in re-mortgaging though. BTL loans for house purchase were down 11.1% on the month, and down 5.6% on the year. Superb! Yup and looking at some of the larger auctions there seems to be a bit of a rush for the exits with what looks like portfolios being sold (UKAR maybe?) Anecdotally around my way it looks like a repeat of last year, is starting to gain pace Quote Link to comment Share on other sites More sharing options...
rantnrave Posted March 17, 2015 Share Posted March 17, 2015 January - cold - lots of snow etc. Thought I'd just get the usual excuses out of the way... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 17, 2015 Share Posted March 17, 2015 Quote Link to comment Share on other sites More sharing options...
awaytogo Posted March 17, 2015 Share Posted March 17, 2015 (edited) Yup and looking at some of the larger auctions there seems to be a bit of a rush for the exits with what looks like portfolios being sold (UKAR maybe?) Anecdotally around my way it looks like a repeat of last year, is starting to gain pace It also looks like a lot of the BTL portfolios in auctions are repros.! Edited March 17, 2015 by awaytogo Quote Link to comment Share on other sites More sharing options...
koala_bear Posted March 17, 2015 Author Share Posted March 17, 2015 It also looks like a lot of the BTL portfolios in auctions are repros.! UKAR run downing of Mortgage Express style repos ? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 17, 2015 Share Posted March 17, 2015 (edited) CML Down....LR Up.....peak idiot time. Guess where we are at ? Edited March 17, 2015 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 17, 2015 Share Posted March 17, 2015 Quote Link to comment Share on other sites More sharing options...
spyguy Posted March 17, 2015 Share Posted March 17, 2015 CML Down....LR Up.....peak idiot time. Guess where we are at ? No sure about about the LR. I was looking on a couple of postcodes - Northern - on houseprices.io. The number of sales for Dec + Jan 15 are bouncing around on the floor. There is not liquidity to speak of. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted March 17, 2015 Share Posted March 17, 2015 (edited) UKAR run downing of Mortgage Express style repos ? Possibly http://www.auction.co.uk/residential/onlineCatalogue.asp theres a good few multiple vacant investment type lots in that auction more than normal Seeing quite a few clusters of flats and houses in local auctions far more than the norm for any time of the year Edited March 17, 2015 by long time lurking Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted March 17, 2015 Share Posted March 17, 2015 Only in re-mortgaging though. BTL loans for house purchase were down 11.1% on the month, and down 5.6% on the year. Superb! Apologies, thanks for the amendment. Seems a bit surprising. Quote Link to comment Share on other sites More sharing options...
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