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pipllman

Countrywide Plc Trading Update

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This morning

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12567012.html

couple of extracts

"Countrywide continues to perform well across its diversified portfolio, notwithstanding the impact on our estate agency business of lower levels of housing transactions than in 2014. However, we remain optimistic about future growth and have continued to invest both organically and non-organically throughout the year.

Despite generally encouraging economic conditions, the anticipated post-election recovery in residential transactions failed to materialise in any significant way. This is underlined by the latest market data which shows Land Registry volumes to the end of July running 8% below 2014. A key constraining factor in the current market is the availability of stock, with the number of properties coming to the market running significantly below the same period last year. Furthermore, changes in stamp duty have had no positive impact on transaction volumes but have constrained moves at the upper end of the market. The slow pace of recovery in housing sales transactions will most likely result in volumes for the year being at least 5% below 2014 at circa 950,000 in total."

"Further investment to strengthen the foundations of our lettings business continues in anticipation of significant growth in future years. "

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There is no ladder....the BTL landlords have snapped up much of the next rung...

Those who nolonger want to sell they rent out to move sideways.

It would be interesting to know the percentage of new owner occupier regulated repayment loans against non regulated IO BTL loans sold.

Edited by winkie

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There is no ladder....the BTL landlords have snapped up much of the next rung...

Those who can nolonger sell they rent out to move sideways.

It would be interesting to know the percentage of new owner occupier regulated repayment loans against non regulated IO BTL loans sold.

That data is published by CML and appears on this forum very frequently

Here is the latest from https://www.cml.org.uk/news/press-releases/house-purchase-lending-up-9-in-august-on-last-year/

FTB £4.2bn versus BTL purchasese £1.4bn

120151013-chart-one-mlt-august-2015.png

Edited by pipllman

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So up 13% yoy home movers and first time buyers.....up 113% yoy BTL loans.

The 20% homeowner re-mortgage part could also be going towards a BTL deposit.

Edited by winkie

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So up 13% yoy home movers and first time buyers.....up 113% yoy BTL loans.

Yes, £11.3bn lent to home buyers / movers versus £1.4bn to £3.3bn in total to BTL (£3.3bn assumes every copper coin of every remortgage went into buying more property - even though it certainly didn't)

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Yes, £11.3bn lent to home buyers / movers versus £1.4bn to £3.3bn in total to BTL (£3.3bn assumes every copper coin of every remortgage went into buying more property - even though it certainly didn't)

The next set of information we want now is how these different types of loans are split up into the different areas of the country......

I would suggest....estate agency business is falling and they are diversifying into rental agents.....meaning more people are being forced to rent whether they want to or not.....and more people have no way of ever buying without outside help.....meaning their full-time income or joint incomes are not sufficient to secure a mortgage that only a remortgaged BTL landlord now has access to.....total disgrace.

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The next set of information we want now is how these different types of loans are split up into the different areas of the country......

I would suggest....estate agency business is falling and they are diversifying into rental agents.....meaning more people are being forced to rent whether they want to or not.....and more people have no way of ever buying without outside help.....meaning their full-time income or joint incomes are not sufficient to secure a mortgage that only a remortgaged BTL landlord now has access to.....total disgrace.

and yet £11.3bn was lent to home movers (up 8%) / first time buyers (up 5%), still almost 10x more than was lent for BTL purchases (sure there is some crossover)

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share price down arrox 12% at the moment.

nothing to see here, move along.

someone just emailed to say sky are reporting, under a banner of HOUSING MARKET, that sales volumes are down 8% in third quarter.

not to worry, I'm off to buy some brie.

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