Thursday, November 19, 2009

5% – October mortgage lending rise

Seasonal rise in mortgage lending

"UK mortgage lending rose by 5% in October compared with the previous month, according to a lenders' group.However, the £13.5bn of gross mortgage lending recorded by the Council of Mortgage Lenders was down 27% compared with the same month a year ago. The group said that the month-on-month rise in lending was typical seasonal activity."

Posted by phdinbubbles @ 09:48 AM (834 views)
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4 thoughts on “5% – October mortgage lending rise

  • “remortgaging at “decade-low levels””

    Unsurprising really, why would anyone remortgage when the SVR that they will have been put on to is so low?

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  • “Last week, the CML revised its forecast for the number of homes that will be repossessed in 2009. If its prediction is accurate, this will see repossessions rising by just 8,000 compared with 2008, with 48,000 homes being repossessed”.

    Rising by JUST 8,000 in 2009.

    I reckon whoever wrote up the webpage has little idea of just how painful repossession can be! 48,000 homes repossessed…phew…that’s an awful lot of pain. A few people commented this week that a HousePriceCrash won’t happen. For the 48,000 people in the article, its already here.

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  • waitingfor hpc says:

    yawn, yawn.. seen two houses i was watching both sold over 3 months ago. now BOTH back on the market.. I am offerd ‘newly reduced’ houses everyday! I see more and more houses on the market……and very few selling. Back to reality I think ………..

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  • Two word phrases which are appearing more often in Rightmove descriptions which speak persuasively for a struggling market.

    1) Price Reduced
    2) Vacant Possession
    3) Unexpectedly Reavailable

    These aren’t opinions

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