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I Told You So

Ftb's Lowest Since 1980 But Approvals Up?

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Halifax today state FTB's are lowest since 1980 and yet the BBA say mortgage approvals for house purchases are at 122000, and on the face of it quite a high figure.

Who are these people?

1. People looking to move, getting the approvals but not considering they might have difficulty selling their own property.

2 . Completely deluded BTLers who still thinking property can only ever go up?

Will the majority of these mortgages never complete or is there something I am missing?

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I have a friend who sold up and a BTLer bought it. Friend is still living in the same house.

This just went through last week. For record house went from 47K (1997) to 112K (offered/accepted Oct 2005)

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Who are these people?

I have been asking this all year – they are building 200000 (ish) new properties every year, most of these will be aimed at FTB’ers – I thought new houses / flats would be cheaper to soak up any rich FTB’ers leaving the normal housing market stagnant.

My friends flat fell through- but the estate agent wants him to up the price as he thinks he can get more for it now – 3 months later

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Halifax today state FTB's are lowest since 1980 and yet the BBA say mortgage approvals for house purchases are at 122000, and on the face of it quite a high figure.

Who are these people?

1. People looking to move, getting the approvals but not considering they might have difficulty selling their own property.

2 . Completely deluded BTLers who still thinking property can only ever go up?

Will the majority of these mortgages never complete or is there something I am missing?

There could be an explanation for this. Two people I work with were talking about moving today, both of them want to move before iminant the introduction of HIPs so they have got their mortgage approvals so they are ready to go. If this is typical of the rest of the country it could explain why approvals are up so much. It could also explain the large amount propertys I have seen coming on the market near me recently.

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these approvals are for crap mortgages, that people can only buy crumby little flats with...

the people who dont buy with these approved mortgages are the ones who realise, they are propping up the market, and can see it crashing!

roll on the crash!... :P

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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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