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August 2016 Mortgage Lending Highest Since 2007

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Surprised this hasn't already been mentioned, seen a couple of articles reporting this today...

Given that the only reason mortgage lending was so high in 2007 was as result of irresponsible lending practices and outright fraud, can someone explain (to a simpleton) how it can once again be so high... given we now supposedly have much stricter lending criteria, barely increased wage levels and a weaker global economy.

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Surprised this hasn't already been mentioned, seen a couple of articles reporting this today...

Given that the only reason mortgage lending was so high in 2007 was as result of irresponsible lending practices and outright fraud, can someone explain (to a simpleton) how it can once again be so high... given we now supposedly have much stricter lending criteria, barely increased wage levels and a weaker global economy.

If you look at the CML commentary you'll see, reading between the lines, that remortgaging is the only growing area, not house purchases for BTL, not house purchases for movers, not house purchases for FTBs.

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If you look at the CML commentary you'll see, reading between the lines, that remortgaging is the only growing area, not house purchases for BTL, not house purchases for movers, not house purchases for FTBs.

Thanks for that, I've only seen the headlines, not had chance to read the detail (or between the lines) but what you say certainly makes sense.

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Surprised this hasn't already been mentioned, seen a couple of articles reporting this today...

Given that the only reason mortgage lending was so high in 2007 was as result of irresponsible lending practices and outright fraud, can someone explain (to a simpleton) how it can once again be so high... given we now supposedly have much stricter lending criteria, barely increased wage levels and a weaker global economy.

Just remortgaging for lower interest rates, that's all.

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@ Darwin

On that basis the bbc r4 news bulletin I have just heard was a grotesque distortion. A real eye opener ti the misreporting.

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Surprised this hasn't already been mentioned, seen a couple of articles reporting this today...

Given that the only reason mortgage lending was so high in 2007 was as result of irresponsible lending practices and outright fraud, can someone explain (to a simpleton) how it can once again be so high... given we now supposedly have much stricter lending criteria, barely increased wage levels and a weaker global economy.

Our leaders, blessed with PPE from Oxbridge and unencumbered by experience in the real world have safely navigated us from the reefs of the GFC2008 and we're now in a new paradigm where old fashioned thinking about affordability and paying off debt are as relevant as latin and personal responsibility.

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Whilst I lived in the states 2003-2009, before the big crash the amount of tv commercials advertising what we would call equity withdrawal was astonishing.

Given that something like the Simpsons will have five ad breaks per program, it was almost a bombardment.

Needless to say they stopped almost the instant Lehman brothers went pop.

I still think it was re-mortgaging that caused the GFC as much as the ninja loans.

Fingers crossed it has the same effect over here.

(It was similar but more intense than all the 'we buy any gold' type ads in the uk a few years ago.

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Whilst I lived in the states 2003-2009, before the big crash the amount of tv commercials advertising what we would call equity withdrawal was astonishing.

Given that something like the Simpsons will have five ad breaks per program, it was almost a bombardment.

Needless to say they stopped almost the instant Lehman brothers went pop.

I still think it was re-mortgaging that caused the GFC as much as the ninja loans.

Fingers crossed it has the same effect over here.

(It was similar but more intense than all the 'we buy any gold' type ads in the uk a few years ago.

Less remortgaging, more that act of leveraging more + more money on housing.

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This goes against all the other reports.

Shouldn't the CML, be called the Council of Money Leeches.

More lending = more profit.

More debt = good....unless you're in debt.

£170B made up QE cash from the banekrs bankers post BrExit being lend to any sub-rpime egyt that will have it.

Earned money, savings have been made worthless by Carney et al.

The world bankers all seem to be doing the same thing....assets up...cash worthless.

Guess who owns all the assets.

Edited by TheCountOfNowhere

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