Thursday, February 18, 2010

Even the tiniest set back will upset the apple cart

Stamp duty rise hits mortgage borrowing

Mortgage lending in the UK dropped sharply in January owing to a hangover from the rush to buy homes before the stamp duty holiday ended, lenders say. Gross lending for home loans fell by 32% compared with December to £9.1bn, the Council of Mortgage Lenders said. It suggested the decline was due in part to the threshold for paying stamp duty rising at the start of 2010. However, the figure was 21% lower than January 2009 and the lowest monthly total since February 2000.

Posted by mark wadsworth @ 11:59 AM (929 views)
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3 thoughts on “Even the tiniest set back will upset the apple cart

  • brickormortis says:

    The quote actualyl reads: ” due in part to the threshold for paying stamp duty rising” so not quite the right title I feel.

    Anyway, that’s eat. The bloody stamp duty is the problem not the prices of the f***ing house prices!

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  • it_is_going_with_a_bang says:

    Sooner or later there will be drop in prices and it will actually be blamed on house prices being too high and not just because someone left the toilet seat up or something just as stupid.

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  • ontheotherhand says:

    Does anyone know what net mortgage lending was? I’m assuming that the gross figure includes remortgaging and that mortgage repayments could exceed the gross figure?

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