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spyguy

FT: BoE questions big banks over buy-to-let lending

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See, you dont get to be the CEO of Northern Rock and Bradford and Bingley without being pretty smart ...

https://www.ft.com/content/a61f2234-b334-11e6-9c37-5787335499a0

'Supervisors from the central bank’s Prudential Regulation Authority have visited lenders in the past two weeks to express concern over the buy-to-let market, according to sources at three institutions. '

Oh dear. Will the board of Nationwide  fall off a boat in the Med or something?

 

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Did it fall or was it pushed?

Quote

While the PRA did not tell banks to stop extending buy-to-let loans, banks have interpreted supervisors’ raised eyebrows in this way, they told the Financial Times. “The message was clear — we think you have enough buy-to-let loans,” said one.

This year just gets better and better. :D

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16 hours ago, spyguy said:

See, you dont get to be the CEO of Northern Rock and Bradford and Bingley without being pretty smart ...

https://www.ft.com/content/a61f2234-b334-11e6-9c37-5787335499a0

'Supervisors from the central bank’s Prudential Regulation Authority have visited lenders in the past two weeks to express concern over the buy-to-let market, according to sources at three institutions. '

Oh dear. Will the board of Nationwide  fall off a boat in the Med or something?

 

Glad Cameron isn't still in, or we'd have htb(tl) to contend with

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11 minutes ago, TheCountOfNowhere said:

Without BTL and HTB...the bubble will collapse.

 

If the US rease IRs and the UK has to follow the bubble collapse will be extreme.

Indeed. Remember the 90s hpc was against falling IRs

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16 minutes ago, TheCountOfNowhere said:

Without BTL and HTB...the bubble will collapse.

 

If the US rease IRs and the UK has to follow the bubble collapse will be extreme.

HTB (part deux - for all properties) currently has five weeks left to run...

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2 minutes ago, rantnrave said:

HTB (part deux - for all properties) currently has five weeks left to run...

We should know the effects of BTL clamp down/removal of HTB bu June next year.

 

If they could get rid of Carney by then things would be looking up

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Interesting times. Tomorrow NW HPI report and BOE mortgage approvals for Oct , forecast 66k last month 63k. Any number below the previous month should be treated as falling market.

Day after BOE Stress test report along with financial stability report.

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22 minutes ago, hi5lo5 said:

Interesting times. Tomorrow NW HPI report and BOE mortgage approvals for Oct , forecast 66k last month 63k. Any number below the previous month should be treated as falling market.

Day after BOE Stress test report along with financial stability report.

BOE Stress Test.

 

Funny.

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5 minutes ago, TheCountOfNowhere said:

BOE Stress Test.

 

Funny.

I think the stress test is key to this.

Not the managed version, but charges coming in from Basel3.

There does seem to be an air of panic about the original article.

The BoE obviously 'signalled' that banks should slow down their BTL ending and charge more for it.

The banks did not listen. Or hoped that Gidiot would come up with another wheeze.

Now the banks have looked at the basel3 rules and are sh1tting it.

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