Thursday, November 20, 2008

Winter bounce !?!

Mortgage lending increases by 7%

Same facts as a post below this, just a slightly different spin ..."Mortgage lending rose by nearly 7% during October but it remained well down on 12 months ago, figures show. A total of £18.7 billion was advanced during the month, compared with just £17.5 billion during a "weak" September, the Council of Mortgage Lenders said. But the figure was still 44% lower than the £33.38 billion lent in October 2007, and it was also down on August's advances of £19.66 billion. Despite the increase in lending during October, the Council of Mortgage Lenders (CML) warned that demand was likely to remain subdued due to falling house prices and the deteriorating economy. " (I do like that last sentence. A lot!)

Posted by mark wadsworth @ 01:07 PM (939 views)
Please complete the required fields.



4 thoughts on “Winter bounce !?!

  • george monsoon says:

    how much of this lending is re-mortgaging?

    Reply
    Please complete the required fields.



  • If I had to guess – virtually all of it. There are some deals out there where there were not last month.

    Reply
    Please complete the required fields.



  • it is most likely all re-mortgaging. Next year 1.4Mil people are coming off their fixed rates, so the figures may look positive when in fact they are not. Propaganda stuff as usual.

    Reply
    Please complete the required fields.



  • Wadsworth

    You like a deteriorating economy ? A lot ?

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>