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TheCountOfNowhere

Mortgage Lending Soars In June, Says Cml

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There may well have been an attitude of get in quick before the referendum because a Remain vote looked likely and that would most likely have given a big boost to house prices.

We'll need to wait and compare with July. I would expect a big drop compared to June. If we don't get a drop, then, yes, give up...

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Me thinks either:

1) They are just lying now

2) The £ devaluation has meant a rush for more pwopatee by savvy investors from all around the world....forcing up house prices of course. BrExit could be a disaster for British people after all :lol: Plus they will keep the immigrants coming and the QE rolling.

f**k this is unbelievaBLE

Edited by TheCountOfNowhere

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How much of that is seasonal though. 10% less than last June, 16% more than May. How did June compare to May last year? Finger in the air, considering the market was almost on it's knees last May, I reckon not much different. But they neglect to mention.

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Face it guys - it's fu3ked. We really will be here in 2020 with the same gripes and moans, but down £40 to 60K in rent and no home to call our own, and another 2,000,000 EU immigrants to add to the mix. It's bull-shit, but a choice needs to be made. I'm literally off in 2 weeks' time, and I'm gone for good. I have two kids. This is not a light option to emigrate. I've really really reallly had enough of all of this - to the back of the back of my back teeth.

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Face it guys - it's fu3ked. We really will be here in 2020 with the same gripes and moans, but down £40 to 60K in rent and no home to call our own, and another 2,000,000 EU immigrants to add to the mix. It's bull-shit, but a choice needs to be made. I'm literally off in 2 weeks' time, and I'm gone for good. I have two kids. This is not a light option to emigrate. I've really really reallly had enough of all of this - to the back of the back of my back teeth.

Nevertheless the CML said lending activity was likely to quieten down over the next few months.

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All it says to me is that things are basically trundling along. The VIs are basically happy. Us renter scumbags are irrelevant. We have the internet to let off steam. The younger generations are in their ecstatic happy-happy Facebook bubble. Intertia. Maybe a 10% drop here, a 15% drop there - over the next 10 years - interspersed with 30 to 50% rises - and tiny incremental wage rises, and negative interest rates, and there you have your British Utopian Future. If you're happy with your situation now, then the future looks good. Otherwise, take action.

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All it says to me is that things are basically trundling along. The VIs are basically happy. Us renter scumbags are irrelevant. We have the internet to let off steam. The younger generations are in their ecstatic happy-happy Facebook bubble. Intertia. Maybe a 10% drop here, a 15% drop there - over the next 10 years - interspersed with 30 to 50% rises - and tiny incremental wage rises, and negative interest rates, and there you have your British Utopian Future. If you're happy with your situation now, then the future looks good. Otherwise, take action.

What lending 10% less people more money to keep the bubble going is not trundling along.

The sales volumes are about to collapse from here.

There is no housing market.

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Come on you guys, still very early days yet, only 1 month has passed since independence day.

I suggest maybe some of you start getting by a new group/lobby that is forming called invoke Article 50 NOW, the sooner we get on with this the better.

I know, let's start a petition!

Sigh.

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What lending 10% less people more money to keep the bubble going is not trundling along.

The sales volumes are about to collapse from here.

There is no housing market.

But the VIs are happy with that. 7 years of ZIRP. 0.25%. More QE. NIRP. Absolutely stubborn policy to infinity.

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The younger generations are in their ecstatic happy-happy Facebook bubble. Intertia

It seems the masses who kicked off about older voters depriving them of their future in Europe are now hypnotised by Pokemon Go. Their worries are only realised when the Nintendo servers crash, truly is the end of the World for them. What a dire state of affairs, maybe we should all just give in and catch some virtual jigglypuffs in a dark London park at 2am?

Back to reality, it's far too early to get downbeat about things, this is the inevitable "keep calm and carry on borrowing" phase, it won't be until the end of the year that we get a true picture of the economic direction.

Edited by Barnsey

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http://www.bbc.co.uk/news/business-36854627

WTF !!!

Mortgage lending soars in June, says CML

.....it's worth remembering BTL does not count as mortgage lending....and a spurt could have been on the agenda in case of BREXIT forecasts ...which proved wrong and the propagandists have been banished from Westminster ...Karma in action......probably all die down in July.... good to watch..... :rolleyes:

Edited by South Lorne

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Come on you guys, still very early days yet, only 1 month has passed since independence day.

I suggest maybe some of you start getting by a new group/lobby that is forming called invoke Article 50 NOW, the sooner we get on with this the better.

Absolutely not. Slowly slowly catchee monkey, markets stabilised. New gov in place. Ask yourself one question why is the slime bag Hollande so keen do you really think it is to our advantage? Keep our powder dry , invoke early next year around the time of the German and French elections and sit back and enjoy

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Come on you guys, still very early days yet, only 1 month has passed since independence day.

I suggest maybe some of you start getting by a new group/lobby that is forming called invoke Article 50 NOW, the sooner we get on with this the better.

Absolutely not. Slowly slowly catchee monkey, markets stabilised. New gov in place. Ask yourself one question why is the slime bag Hollande so keen do you really think it is to our advantage? Keep our powder dry , invoke early next year around the time of the German and French elections and sit back and enjoy

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Borrowers down 10%...Borrowings up a bit....so which headline do they lead with.

It's propaganda pure and simple. Fewer people buying into more insane prices.

Something is about to give...big time.

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Back to reality, it's far too early to get downbeat about things, this is the inevitable "keep calm and carry on borrowing" phase, it won't be until the end of the year that we get a true picture of the economic direction.

I think it will be like Japan. But that's a mixed picture if it is. It means we really need to adjust our thinking about the future. It's not about boom and bust, or recovery or downturn. It's about a prolonged descent to a bottom plateau, where you then bump along it. The word "aspiration" will become a word for historians, not lexicographers. House prices WILL fall (like Japan), but you will need to be super-patient to really see them fall to a level that is affordable.

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..again

Borrowers down 10%...Borrowings up a bit....so which headline do they lead with.

It's propaganda pure and simple. Fewer people buying into more insane prices.

Something is about to give...big time.

..again people anticipating higher borrowing costs after BREXIT ...one of Osborne's warnings ..higher interest rates ...many could have been remortaging for a fixed rate to lock in .... :rolleyes:

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Face it guys - it's fu3ked. We really will be here in 2020 with the same gripes and moans, but down £40 to 60K in rent and no home to call our own, and another 2,000,000 EU immigrants to add to the mix. It's bull-shit, but a choice needs to be made. I'm literally off in 2 weeks' time, and I'm gone for good. I have two kids. This is not a light option to emigrate. I've really really reallly had enough of all of this - to the back of the back of my back teeth.

Good luck. If things don't change over the next couple years then I will be looking to move elsewhere too.

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Not at all, but many people want to remember that if it was not for Farage, and Farage alone,pushing and pushing and pushing the referendum would have never happened. Everyday we should be pressuring May to get on with it, because without a doubt if we just went back into our usual ways of apathy and excepting what ever is thrown at us article 50 will never happen.

Well, how do we do that? The government only seem to respond to their own appointed referendums. Leave won the vote. Great. But so what? What now? Article 50 is a shiny can with already one dent in it. It's already far on the horizon. "Unforseen events...". "It would be ill-advised to...." etc. etc .etc. Excuses already lined up to kick it down the road again. And then when it's invoked, it's just step one. Even if we actually leave the EU, will there still be freedom of movement? Many people are scared to associate the leave vote with freedom of movement. They say "we don't mind immigration, we just want bent bananas lol!" - will May just appease that section of the Leave campaign? She was a shit Home Secretary, a Remainer, why the hell would she not keep freedom of movement, which in my mind, makes Britain a shitter place (to be blunt).

Edited by canbuywontbuy

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