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eurows

Mortgage Lending Falls 12%

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Nice healthy drop to start the summer slump off with.

"
In the past couple of months the interest rate picture has changed and financial markets are expecting the Bank of England to raise rates this summer.
"If this happens, housing and mortgage market activity is likely to slow down from the recent high levels as the year progresses
."

With the UK market poised on a knife edge any slowdown will be perceived as a selling opportunity before things really get rough as IR hikes start to bite.

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I feel this is the start and the proposed IR rises this summer will make a HUGE difference coupled with the HIPS

Totally agree eurows - I've been saying for ages that I think these will be the trigger. IR's go up, house prices start going down, then a "rush for the door" to beat the HIP's deadline. How many BTL's will be killed in the stampede? :rolleyes:

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Totally agree eurows - I've been saying for ages that I think these will be the trigger. IR's go up, house prices start going down, then a "rush for the door" to beat the HIP's deadline. How many BTL's will be killed in the stampede? :rolleyes:

But what's the problem? Surely all those buying houses now will be on low fixed introductory rates?

Billy Shears

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But what's the problem? Surely all those buying houses now will be on low fixed introductory rates?

I know a few people that took out variable rates because they were told by the media that rates were going down twice this year.

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I'm hoping to see a turn in the market and change of public sentiment by year end 2006.

If it doesn't happen by Christmas I'm changing my plans for the forseable future and shipping-out.

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I know a few people that took out variable rates because they were told by the media that rates were going down twice this year.

They might as well have advised them to bet on a horse with a broken leg to win the Grand National--it will fall at the first fence. Funny how the VIs never mention the Yen carry trade effect coming our way soon?

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I know a few people that took out variable rates because they were told by the media that rates were going down twice this year.

What do they say now? Have they woken up to smell the coffee, or are they still going to be expecting two cuts even in October?

Billy Shears

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Things have started unwinding - saw the signs here in W Wales a few weeks back and now the figures are backing up what I reported back then. I've just noticed that Pembrokeshire prices officially fell in the first 1/4 :). My prediction of a downturn starting to kick-in later this year / 2007 seems likely to be realised. Many of the people I know who work in The City have been predicting a strong 2007 housing downturn for quite a while and at last some in the meedya are starting to catch on.

Edited by gruffydd

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And the recent bump in spending was apparently related to the sheeple buying up big screen TVs for the World Cup not housing related. Once the thrill and exhileration of the games is over the spending and MEWing hangover will begin just in time for a HPC.

BTW I read that Sony and Samsung are going for massive production increases this summer to lower prices by as much as 50% by Autumn. A Big Screen TV price meltdown?

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And the recent bump in spending was apparently related to the sheeple buying up big screen TVs for the World Cup not housing related. Once the thrill and exhileration of the games is over the spending and MEWing hangover will begin just in time for a HPC.

BTW I read that Sony and Samsung are going for massive production increases this summer to lower prices by as much as 50% by Autumn. A Big Screen TV price meltdown?

There are already some going on ebay for a few hundred quid. Looking at my small car sized tv in the corner, I can see the attraction of a slim, light tv. Especially when moving house as a renter - it's a two man job to shift the bloody thing.

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I wouldn`t count too many chickens regarding HIPS just yet. It ain`t a done deal by a long way.Given this Governments record on U-Turns(SIPPS), and fudges (the foxhunting bill) anything is possible.We can live in hope though.

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There are already some going on ebay for a few hundred quid. Looking at my small car sized tv in the corner, I can see the attraction of a slim, light tv. Especially when moving house as a renter - it's a two man job to shift the bloody thing.

Problem is that the things aren't light weight. A 42" plasma weighs in at over 100 lb's

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I wouldn`t count too many chickens regarding HIPS just yet. It ain`t a done deal by a long way.Given this Governments record on U-Turns(SIPPS), and fudges (the foxhunting bill) anything is possible.We can live in hope though.

I think HIPS is a done deal. The government could not afford the embarrasment of another U turn. They have trained hundreds of people and companies such as these are setting up all over.

http://www.hipsdirect.com/

Notice the link at the bottom HIPS FINANCE

Edited by eurows

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I notice that the Guardian's business page has put a different spin on this to the BBC. Mortgage lending hits April record.

The CML said the drop was likely to have been caused by the timing of Easter, which meant that while there were only 23 working days in April, but 27 in March. When this was taken into account, average daily lending was actually higher in April than in the previous month.

And:

However, Adrian Coles, director-general of the Building Societies Association (BSA), said seasonally adjusted figures for mortgage approvals showed that April had been the second busiest month in two years, while mortgage advances were running at higher levels than in any month last year.

"Concerns at the end of last year that the housing market would slow right down in 2006 now seem misplaced. Instead, it looks like we are in for a busy summer."

The figures support the finding of a BSA survey of building society chief executives, which showed that the majority expect house price rises to outstrip inflation this year.

So that's it then, the crash is postponed and the lenders are going to continue shovelling cash into the market with gay abandon.

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I wouldn`t count too many chickens regarding HIPS just yet. It ain`t a done deal by a long way.Given this Governments record on U-Turns(SIPPS), and fudges (the foxhunting bill) anything is possible.We can live in hope though.

You're not the 'Kirsty' [Allsop] are you?

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And the recent bump in spending was apparently related to the sheeple buying up big screen TVs for the World Cup not housing related. Once the thrill and exhileration of the games is over the spending and MEWing hangover will begin just in time for a HPC.

The Haliwide and RightTrack are preparing their World Cup excuse for the 'quiet' housing market this summer.

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The Haliwide and RightTrack are preparing their World Cup excuse for the 'quiet' housing market this summer.

Given the volatility of every market these days we might have a full on sheeple panic this summer, especially if the LR figures are as "bad" as they have been for so many regions arond the nation. Didn't the Great Crash kick off in the summer of '89 after the Spring Bounce failed to materialise?

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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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