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Realistbear

Shock And Amazement: Good 'ol B B C

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http://news.bbc.co.uk/1/hi/business/4824608.stm

February sees mortgage slowdown
Buyer interest for homes usually wanes during the winter
Mortgage lending slowed in February, according to both the British Bankers' Association (BBA) and Council of Mortgage Lenders (CML).
Lending totalled £21.8bn in February
down 5% on January
, the CML said.

Unfortunately, they continue the VI line later on as prices become even more unaffordable in the SE and London where FTBs have dissappeared completely and the level of mortgage debt becomes heavier and even more threatening than ever before.... :lol:

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Have they gone totally BEAR????

Not a mention of Rightmove and this

UK finances move further into red

Taxes may have to rise in coming years, experts have warned

The government borrowed more than expected in February, figures released just days ahead of the UK Budget show.

Public sector net borrowing - the government's preferred measure - hit £2.3bn in February, up from £1.4bn the Office for National Statistics said.

As a result, over the first 11 months of the fiscal year the total UK deficit stood at £31.7bn, compared with the Gordon Brown's forecast of £37bn.

Many experts have warned Mr Brown will have to raise taxes to cut borrowing.

FULL STORY

http://news.bbc.co.uk/2/hi/business/4824442.stm

TB

BEFORE THE UBER-BULLS

Jump down your neck it also says this:

The group pointed out that mortgage lending in February was 22% higher than for the same month last year.

Obviously amounts are going to be higher as people have to borrow more to buy their crack-dens. Would be interesting to see the number of applications followed through???

Edited by teddyboy

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Guest Charlie The Tramp

When the growth rate in lending hits zero the slow strangulation begins. IMHO I would say that will happen around June this year as the lenders attempt to cut their defaults currently £20 in ever £100 they lend.

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This is just to balance the over board ramping we will get later in the week when stamp duty is raised and we will have the usual “ the government have reacted fast and positively by responding to the drop in lending – giving the housing market a further boost”

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As posted on the parallel thread - Jan has 5% more working days than Feb. So for there to be a 5% fall from Jan --> Feb is to be expected.

February: 20 working days

January: 21 working days (January BH Monday).

Might also have to consider January had worse weather and hangover from Christmas & NY holidays to keep people's attention off more borrowing until bills come in later in the month?

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Let me see...

prices go up and volume of sales goes down.

Another would think that the figures are really skewed by low volumes!

Perhaps this is more of what we saw happening last year.

Perhaps the quality of houses that are selling are simply much better/nicer that they used to be.

So the price of an average property has increased but that average property is in better condition, location etc etc.

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Not good 'ol BBC unfortunately. I caught the tail end of something on News24 this am. They had some woman on doing a report and she finished off with something along the lines of "so prices are looking healthy and continuing to rise. It has been reported that many FTBs are waiting and hoping for a property crash, but I think we can be confidently assured that certainly isn't going to happen". She then proceeded to look to camera, gave a massive shit-eating grin, and they went on to the next report.

I nearly put the TV through, but in the end put off what I had to do this morning for a few hours, hoping it would be repeated so I could record it and post here. It wasn't. Sorry I don't have more info for you guys. It made my blood f@cking curdle, I can tell you.

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"Taxes may have to rise in coming years, experts have warned "

I have it on good authority that the Governments new plan is to take all of your salary & then give you £5 spending money if you're good boys & girls:)

Seriously though, I work but have a small business as well & I'm getting ready to file my tax returns for the first years trading. I turned over £35K with c.£25K profit, but you'd be gobsmacked at the amount of tax I'm going to get clobbered for in total, I'll even get snagged for VAT that I can't pass onto the customers because of the stupid 3 month rule - I'm well under the threshold really. I'll be lucky to have £11K left by the time they've finished.

Theres no wonder so many small businesses fail, nor that so many businesses ship everything abroad. If my turnover ever gets high enough I'll be on the next flight out of here.

I've always been proud to be English, & it pains me to say it, but lately this country really sucks.

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"Taxes may have to rise in coming years, experts have warned "

I have it on good authority that the Governments new plan is to take all of your salary & then give you £5 spending money if you're good boys & girls:)

Seriously though, I work but have a small business as well & I'm getting ready to file my tax returns for the first years trading. I turned over £35K with c.£25K profit, but you'd be gobsmacked at the amount of tax I'm going to get clobbered for in total, I'll even get snagged for VAT that I can't pass onto the customers because of the stupid 3 month rule - I'm well under the threshold really. I'll be lucky to have £11K left by the time they've finished.

Theres no wonder so many small businesses fail, nor that so many businesses ship everything abroad. If my turnover ever gets high enough I'll be on the next flight out of here.

I've always been proud to be English, & it pains me to say it, but lately this country really sucks.

If you think its bad now just wait until we have to pay for all Gordon's HPI/MEW. So far its been a free ride with low taxes (under Dennis "Silly Billy" Heally we had 98% if you were a top earner and had investment income) and cheap money. The good times are behind us as the economic cycle turns.

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  • 301 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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