Tuesday, May 26, 2009

Do we have a trend

The Bank of England has just begun collecting data on mortgage acceptances. At the moment, banks approve around 75 percent of applications. It is up slightly from December 2009, when around 72 percent of applications were approved.

Are we seeing the beginning of a trend in approvals?


  1. What would have been the pre-crash level of approvals?

  2. Presumably this is mainly a function of how well their staff advise potential customers before applications are made?

  3. Is that approvals for mortgages where house prices have fallen? With greater research on ability to pay? And not buy-to-let being snapped up at auction? Isn't that what we need; lower house (ie home) prices, and the ability to buy them? Let's hope this isn't the next turn of the wheel, and another bubble starting.

  4. Surely this is not of interest unless you know how many applications are being made?

    75% of 100 applications is not an increase on 60% of 1000, after all.

    And are mortgage approvals a good thing or a bad thing? We know Broon is desperate to re-inflate his bubble in time for the next election, but the hair shirt has to be worn some time, and the sooner the better. Let us not delude ourselves that there can ever be a return to business "as usual" in the 2007 sense of the words.

  5. I just hope they're getting mortgages with fixed rates...