Monday, October 25, 2010

Monday afternoon Bear food

Fresh concerns over house prices as mortgage lending plunges to its lowest level in TEN years

Mortgage lending dived to its lowest level for a decade during September as activity in the housing market remained subdued, figures showed today. Net lending, which strips out redemptions and repayments, was just £1.6 billion during the month, well down on the previous month's total of £2.5 billion and the lowest figure since October 2000. Lending showed little sign of picking up in the near future, with the number of mortgages approved for house purchase dropping for the fourth consecutive month to hit an 18-month low, the British Bankers' Association said.

Posted by jack c @ 01:50 PM (1050 views)
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2 thoughts on “Monday afternoon Bear food

  • Have the VIs just given up? Reading the comments on these articles now there’s practically no argument that anything other than a crash is likely.

    You get the odd ‘anti’ comment, usually to the effect that the whole economic downturn was caused by ‘doomsayers’ and newspaper columnists, but nothing thought out or agued any more. These comments used to be 50:50 but are now maybe 90:10 in our favour or even more.

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  • tenyearstogetmymoneyback says:

    Net lending, which strips out redemptions and repayments, was just £1.6 billion during the month.

    I’m surprised that this number was positive at all. According to Goverment statistics there are 29.16 million people were in work,
    so to lend that figure is the equivalent of every single worker saving £55. In contrast how many times do we hear about people with no savings at all.

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