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the end is a bit nigher

Mortgage Applications

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I am led to believe that in the last month mortgage applications have fallen off a cliif.

Don't ask for a link, I'm telling you! You can slate me when the figures come out.

The changing face of mortgage applications....

12 months ago

Customer: Please Sir, can I have a mortgage?

Bank: Why of course. Just sign here

Customer: Thanks!

now

Customer: Please Sir, may I have some more?

Bank: More? Why of course me ole mucker. Just sign here, don't worry about the fee, we will tack that on the end so there's no pain now

6 months time

Customer: Yoohoo, its only me again. Same again please?

Bank: Who the f*ck do you think we are, some sort of charity? Just pay what you owe and get lost. BTW its SVR only for you soon sonny boy because we now see you as a liability, and frankly don't give a sh*t

ho ho ho :lol:

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One week they throw them in the bin, the next it's off a cliff...

Why can't they just buy a shredder or incinerate them or something like that?

Or leave them outside in bin bags like banks normally do...

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I am led to believe that in the last month mortgage applications have fallen off a cliif.

Don't ask for a link, I'm telling you! You can slate me when the figures come out.

Why would we slate you when the figures come out?

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I would like to wager that mortgage applications are up for the period on last year.

Many people are coming out of short term fixed, and others are fixing their variables. There is I am guessing a lot of activity and its a mortgage brokers dream come true.

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I am led to believe that in the last month mortgage applications have fallen off a cliif.

Don't ask for a link, I'm telling you! You can slate me when the figures come out.

We are used to bears and bulls taking stats and twisting them up hill and down dale - but to just boldy assert mort apps are down without an ounce of evidence is somewhat dodgy.

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We are used to bears and bulls taking stats and twisting them up hill and down dale - but to just boldy assert mort apps are down without an ounce of evidence is somewhat dodgy.

I have seen evidence - whether or not it is truly representative we won't know until the figures are released, hence my comment about being able to slate me!

If applications are up I shall be bitterly disappointed.

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We are used to bears and bulls taking stats and twisting them up hill and down dale - but to just boldy assert mort apps are down without an ounce of evidence is somewhat dodgy.

...the best business decisions are made on 'gut feeling'......... :o

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The changing face of mortgage applications....

12 months ago

Customer: Please Sir, can I have a mortgage?

Bank: Why of course. Just sign here

Customer: Thanks!

now

Customer: Please Sir, may I have some more?

Bank: More? Why of course me ole mucker. Just sign here, don't worry about the fee, we will tack that on the end so there's no pain now

6 months time

Customer: Yoohoo, its only me again. Same again please?

Bank: Who the f*ck do you think we are, some sort of charity? Just pay what you owe and get lost. BTW its SVR only for you soon sonny boy because we now see you as a liability, and frankly don't give a sh*t

ho ho ho :lol:

:lol::lol::lol:

Enjoyed that.

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I have seen evidence - whether or not it is truly representative we won't know until the figures are released, hence my comment about being able to slate me!

If applications are up I shall be bitterly disappointed.

Should also add, all news stories and things that have links to them start somewhere which doesn't have a link! Think of this as a potential start. I will apologise in advance in case it's wrong.

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Bump

Not trying to show you up or anything, the end is nigh, but I expected some commentary following those figures. All I recollect was "RECORD LENDING". What were the volume figures like for FTBs and house movers, not re-mortgagers who presumably make up a large part of the record lending.

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Bump

Not trying to show you up or anything, the end is nigh, but I expected some commentary following those figures. All I recollect was "RECORD LENDING". What were the volume figures like for FTBs and house movers, not re-mortgagers who presumably make up a large part of the record lending.

hi daiking - i'm waiting for the u.k. figures for June mortgage approvals for purchases as those are the ones i think will fall - as i mentioned, i may be incorrect and if i am will be quite happy to say so - i will also be very disappointed

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hi daiking - i'm waiting for the u.k. figures for June mortgage approvals for purchases as those are the ones i think will fall - as i mentioned, i may be incorrect and if i am will be quite happy to say so - i will also be very disappointed

Sorry, I thought the approvals figures would be with the lending figures that came out on Thursday: http://www.cml.org.uk/cml/media/press/1224

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Well where i work (at the dodgy end of the market)

applications seem to be holding fine.

but if you're after bear food over the last 3 months the number of people in arrears has doubled.

I'd love to give you official figures but i'd get sacked.

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Well where i work (at the dodgy end of the market)

applications seem to be holding fine.

but if you're after bear food over the last 3 months the number of people in arrears has doubled.

I'd love to give you official figures but i'd get sacked.

Interesting. I was interested to read that the "suprime mortgage mortgage expected to grow" stories actually meant that people's credit ratings would deteriorate rather than than more mortgages would be granted (so they'd move into the subprime area). This would seem to fit in with that.

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Sorry, I thought the approvals figures would be with the lending figures that came out on Thursday: http://www.cml.org.uk/cml/media/press/1224

Hmmmmm......missed that - although it's not the figure I was looking to, it would appear from that there is a fair chance I will be wrong

But the mix of transactions is changing with our expectation being a higher percentage of remortgaging, to minimize potential payment shock, and lower numbers of house purchases as fewer people chose to move.

I don't know if this comment in the report gives hope or not?

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Well where i work (at the dodgy end of the market)

applications seem to be holding fine.

but if you're after bear food over the last 3 months the number of people in arrears has doubled.

I'd love to give you official figures but i'd get sacked.

it was figures for the dodgy end of the market i was looking at! :lol:

down 25% in June

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Interesting. I was interested to read that the "suprime mortgage mortgage expected to grow" stories actually meant that people's credit ratings would deteriorate rather than than more mortgages would be granted (so they'd move into the subprime area). This would seem to fit in with that.

Indeed i keep trying to guess which way the industry will go.

What worries me more than anything (on a humitarian basis) is the collapse of CDOs because if the sub prime lenders can't get hold of more money to lend, then they're more likely to push for repossesions, so they can get their money back to lend out again.

TEIN - I'm not going to dispute what you've heard but do you know whether thats new approvals or not, i'd be shocked if first charges hadn't already all but dried up in the sub prime sector. I'll certainly be keeping an eye on this.

<<edit to see you meant new approvals in that case i think it'll be more than 25% ;) >>

Disclaimer: Yes i do feel guilty about my job

Edited by slurms mackenzie

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