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November Mortgage Borrowing Figures?

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Guest Daddy Bear

'Nov 2005 - £ 27 billion loaned by banks in form of mortgages'

'After redemptions and repayments are taken into account for that month:

Nov 2005 - Mortgage debt has risen £ 8.7 billion'

Can anyonre tell me how much of this £8.7 billion has been used to purchase property thereby fuelling the market and causing a potential small rise next year.

OR

Alternatively how much has been used for RE-MORTGAGING?? - where peolpe are releasing money from their homes for home improvemnts, a new car, family holidays, all the kid christmas presents or/and most highly likely paying off the the huge debts built up on credit cards and overdrafts over the last 8 years of this CONSUMER (note NOT producer) fuelled BOOM.

Where can I get these figures from?

DB

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Guest Daddy Bear

'Nov 2005 - £ 27 billion loaned by banks in form of mortgages'

'After redemptions and repayments are taken into account for that month:

Nov 2005 - Mortgage debt has risen £ 8.7 billion'

Can anyonre tell me how much of this £8.7 billion has been used to purchase property thereby fuelling the market and causing a potential small rise next year.

OR

Alternatively how much has been used for RE-MORTGAGING?? - where peolpe are releasing money from their homes for home improvemnts, a new car, family holidays, all the kid christmas presents or/and most highly likely paying off the the huge debts built up on credit cards and overdrafts over the last 8 years of this CONSUMER (note NOT producer) fuelled BOOM.

Where can I get these figures from?

DB

3rd January 2006 12:56

Mortgage equity withdrawal fell in the third quarter of 2005, Bank of England figures showed.

The latest statistics show that the amount of equity homeowners were withdrawing from their properties was down 19 per cent, hitting its second lowest level for three years.

With concerns rising about the future of the economy and the performance of the housing market, people appear less willing to borrow against their homes.

"Mortgage equity withdrawal fell back in the third quarter of 2005, suggesting that the marked pick up in the second quarter was not the beginning of a renewed upward trend," said Howard Archer, chief UK economist at Global Insight.

The sharp rise in house prices around the turn of the century had seen a rise in equity withdrawal as homeowners looked to cash in.

Equity withdrawal peaked in 2003 and these latest figures were 57 per cent down on those heights.

This is all I could find on Mortgage equity withdrawl.

As someone who is keen on a house market crash my concern is that the renewed mortgage lending is not being used to pay off debt but is indeed being used to purchase houses thereby allowing this boom to continue for the short term.

Any thoughts?

(Apologies for the 2 posts - slow computer!)

DB

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  • 302 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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