Monday, March 30, 2009

Big News – Hpc Cancelled!!!!

19% leap in mortgage approvals

The feel good bulls are out the cage and fighting back - You have got to have rocks in your head to buy a house now. Unless you get a bargain!!

Posted by waitingfor hpc @ 03:14 PM (2383 views)
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15 thoughts on “Big News – Hpc Cancelled!!!!

  • little professor says:

    HOUSE PRICE CRASH CANCELLED!!!

    Oh wait….
    “Despite the pick-up, approvals for house purchase were still 44% lower than in February 2008”

    That’s still a crash in my book.

    Reply
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  • justwatching says:

    reposted from earlier one.

    number of loans UP 12% on Jan figure.

    Number of loans DOWN 44% on Feb 08 figure

    Number of loans DOWN 67% on Feb 07 figure

    BUT
    although number of loans MoM went up 12%, their value went up a MASSIVE 3%. HMMMMM.
    Work that puppy out.

    ALL seasonally adjusted of course.

    Back to the calculator.

    Do you ever get the impression your calculations are wrong?
    My calculator is telling me the average loan value for Jan 09 was £286,968???
    & for Feb09 £248,016???
    A 13.6%drop???????????????

    Monday, March 30, 2009 01:06PM

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  • Even Margaret Beckett said at the weekend that “Any politician who said we have hit the bottom of the market would be insane. Everybody is saying things are very difficult.” She was the Queen of talking the market up. The link to the lovemoney article should be on News Blog soon shows why prices HAVE to fall, nobody can afford them. HBOS / Halifax figures confirm that at peak average loan to income ratios were just under 6x’s. The Council of Mortgage Lenders confirm the average is now 3x’s, a 50% drop in lending levels =’s
    a 50% drop in prices, you CAN’T talk the figures up. Take a look at aboutmyproperty, put in any street and see what prices were in 2000 because that is where we are going. Anyone currently buying even at 30% off peak will lose 20% by the end of the year.

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  • Little Professor says:

    Justwatching – “Do you ever get the impression your calculations are wrong?”

    Your calculator must be broke. Either that, or PLBKAC.

    Jan 09: Number of loans 98,518, total value £9.1 billion, average loan value £92,368
    Feb 09: Number of loans 101,942, total value £9.4 billion, average loan value £92,209

    Difference month-on-month: Number of loans UP 3.5%, total value UP 3.3%, average loan value DOWN 0.2%

    Reply
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  • little professor says:

    Justwatching – “Do you ever get the impression your calculations are wrong?”

    Your calculator must be broke. Either that, or PLBKAC.

    Jan 09: Number of loans 98,518, total value £9.1 billion, average loan value £92,368
    Feb 09: Number of loans 101,942, total value £9.4 billion, average loan value £92,209

    Difference month-on-month: Number of loans UP 3.5%, total value UP 3.3%, average loan value DOWN 0.2%

    Reply
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  • little professor says:
    Reply
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  • little professor says:

    Sorry for the multiple posts – password issues.

    Taking the figures for new house purchases alone (ie excluding remortgages), the figures are:

    Jan 09: Number of loans 31,791, total value £3.8 billion, average loan value £119,530
    Feb 09: Number of loans 37,937, total value £4.5 billion, average loan value £118,617

    Difference month on month: Number of loans UP 19%, total value UP 18.4%, average loan value DOWN 0.7%

    Reply
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  • Two days too early folks.

    Should have saved it along with the rise in fuel tax.

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  • Wonderwoman says:

    No such thing as a bargin in Greater London. “Average” house price well over Quarter of a Million Pounds – still way out of reach for the “average” FTB on approx. £25k per annum. I am still waiting for the huge reality check that is hurtling down that mountain like an avalanche – don’t buy now – the best is yet to come! x

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  • justwatching says:

    lp, thanks. I was only looking at the first page of BofE spreadsheet.

    There are shedloads remortgaging though.

    What does PLBKAC mean?

    Reply
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  • I didn’t know either – so I looked it up:

    From urban dictionary:

    Acronym in computer circles meaning ‘problem lies between keyboard and chair’. Refers to the person sitting in the chair being the real problem. The user complained of the new software breaking his computer but really it was a PLBKAC.

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  • First officer to Captain of Titanic :

    I have inspected the damage Sir and there is nothing to worry about the ice berg was only two thirds the size expected.

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  • Where is the money coming from? Dunfermline has just been rescued today.

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  • @mander

    “Where is the money coming from?”

    Our taxes.

    Reply
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