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Jason

Mortgage Approvals Up Sharply On Last Year

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"LONDON (Reuters) - Mortgage approvals for home purchases jumped 51 percent on the year in November, British Bankers' Association data showed on Thursday, in more evidence that the housing market is rebounding from a slowdown this year.

Approvals -- the number of loans agreed but not yet made -- totalled 71,310 in November. That was down slightly from 72,328 in October but 51 percent higher than a year ago."

http://www.tiscali.co.uk/news/newswire.php...y_template.html

Also: http://www.ifaonline.co.uk/public/showPage.html?page=309169

Edited by Jason

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the number of loans approved in nov 2005 was 10% less than nov 2003

also

the number of loans approved in 11 months this year is 16% down on 2004( 11months) and 30% down on 2003 (11months)

activity picked up but probably a suckers rally

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"LONDON (Reuters) - Mortgage approvals for home purchases jumped 51 percent on the year in November, British Bankers’ Association data showed on Thursday, in more evidence that the housing market is rebounding from a slowdown this year.

Approvals -- the number of loans agreed but not yet made -- totalled 71,310 in November. That was down slightly from 72,328 in October but 51 percent higher than a year ago."

http://www.tiscali.co.uk/news/newswire.php...y_template.html

Gordon did his U-Turn after many potential BTL'ers had committed funds to buy in the Spring. This no doubt accounted for a large number of the mortgage applications in November. Given that home sales were flat in that month (or dropping) it is unlikely that the "record" amount of loans found their way into new house purchases that led to completions.

We have to remember that we are dealing with an industry under threat. A falling or stagnant market next year will put many shylocks out of business.

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Is anyone else suspicious of these sort of wildly fluctuating figures? In my opinion, a lot of these housing related figures, such as this one, and the monthly inflation figures are jumping up and down an awful lot. How can these things change so much in the space of a month? What is the possible driver for a 50% change in mortgage approvals, whether up or down? Is it real? Are any of these figures real?

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the number of loans approved in nov 2005 was 10% less than nov 2003

also

the number of loans approved in 11 months this year is 16% down on 2004( 11months) and 30% down on 2003 (11months)

activity picked up but probably a suckers rally

Any idea on what proportion of this was remortgaging/new mortgages?

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Any idea on what proportion of this was remortgaging/new mortgages?

the numbers quoted are solely loans aproved for house purchases and exclude re-mortgages etc

they are a good forward indicator of potential transactions.

as mentioned elswhere the now aborted SIPPS would have increased the volumes somewhat.

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Try here :0)

Approved for Re-mortgaging: 72650 up around 3.7% ish on Oct 70014 and up roughly 17% on last year.

Ah yes. I'm surprise the BBC hasn't spun it yet!

It amazes me how these professional bodies don't even know how to print to PDF. I bet they print it, then scan it in as a PDF.

Muppets!

Edit: The times has a go: http://business.timesonline.co.uk/article/...1962349,00.html

Edited by Jason

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Try here :0)

Approved for Re-mortgaging: 72650 up around 3.7% ish on Oct 70014 and up roughly 17% on last year.

Numbers of remortages up 17% value up 35% YOY.

Biggest value for remortages on their records.

Approvals for home loans up on last year but still below spring 04 (when things began to level off).

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  • 338 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%



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