Whinging Pom House seller
#3977
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
just spotted this
sorry to disappoint everyone
Mortgage lending slows, Bank says
The number of new mortgages being given to house buyers has fallen by 20% in September from a year earlier, according to Bank of England figures.
Last month, 102,000 new mortgages were approved for house buyers, 25,000 fewer than in September 2006, and 6,000 less than in August, the Bank said.
The figures add to the growing body of evidence that the property market is now cooling off rapidly.
Recent surveys have shown that price growth is slowing down in many areas.
Last week the Land Registry for England and Wales reported that annual property price inflation had dropped in September to 8.7% from 9.4% in August, describing this as a "noticeable dip".
Other recent surveys, from big mortgage lenders, surveyors and the Department of Communities and Local Government, have all been pointing in the same direction.
The number of new mortgages approved by UK lenders in September was the smallest monthly amount since July 2005.
The downturn has been going on since the summer of 2006 when the Bank of England imposed the first of five increases in interest rates.
But the squeeze on the market now seems to be gathering pace as higher borrowing costs and prices that have still risen briskly in the past year have finally taken their toll.
This slowdown will manifest itself most obviously in 2008, according to the Council of Mortgage Lenders (CML).
Publishing its annual housing market forecasts, the CML said that house price growth would slow down to just 1% from an eventual 7% this year.
And it predicted that there would be a 15% decline in property sales during 2008, down to 1.01 million from an expected 1.17 million this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/h...ss/7067170.stm
The number of new mortgages being given to house buyers has fallen by 20% in September from a year earlier, according to Bank of England figures.
Last month, 102,000 new mortgages were approved for house buyers, 25,000 fewer than in September 2006, and 6,000 less than in August, the Bank said.
The figures add to the growing body of evidence that the property market is now cooling off rapidly.
Recent surveys have shown that price growth is slowing down in many areas.
Last week the Land Registry for England and Wales reported that annual property price inflation had dropped in September to 8.7% from 9.4% in August, describing this as a "noticeable dip".
Other recent surveys, from big mortgage lenders, surveyors and the Department of Communities and Local Government, have all been pointing in the same direction.
The number of new mortgages approved by UK lenders in September was the smallest monthly amount since July 2005.
The downturn has been going on since the summer of 2006 when the Bank of England imposed the first of five increases in interest rates.
But the squeeze on the market now seems to be gathering pace as higher borrowing costs and prices that have still risen briskly in the past year have finally taken their toll.
This slowdown will manifest itself most obviously in 2008, according to the Council of Mortgage Lenders (CML).
Publishing its annual housing market forecasts, the CML said that house price growth would slow down to just 1% from an eventual 7% this year.
And it predicted that there would be a 15% decline in property sales during 2008, down to 1.01 million from an expected 1.17 million this year.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/h...ss/7067170.stm
![Driver_Once_More is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3979
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
CYA later, tea time, .......... lasagne & garlic bread, G & T, and wine and more wine ............. sorry, wrong thread
![Driver_Once_More is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3982
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
dont forget though that the experts are still predicting over a million house sales next year - so a LOT of people will still manage to sell (thinking positive!)
![Tiggs+Graz is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3983
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
![Love](https://britishexpats.com/forum/images/smilies/wub.gif)
![Love](https://britishexpats.com/forum/images/smilies/wub.gif)
![Sunglasses](https://britishexpats.com/forum/images/smilies/sunglasses.gif)
Don't know if you read my post earlier, but we bit the bullet and reduced the price of the house again - now 8% below the EA's valuation in March. Just hope it does the trick this week. If not, we're here to Xmas.
![Sad](https://britishexpats.com/forum/images/smilies/sad.gif)
Finished my papering this afternoon, so don't need strategically palced Xmas decs there - just by the damp patch in the kitchen. LOL.
![EEK!](https://britishexpats.com/forum/images/smilies/eek.gif)
![ROFL](https://britishexpats.com/forum/images/smilies/rofl.gif)
![Fly Away is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3985
Account Closed
![](https://britishexpats.com/forum/images/ranks/star.gif)
![](https://britishexpats.com/forum/images/ranks/star.gif)
![](https://britishexpats.com/forum/images/ranks/star.gif)
![](https://britishexpats.com/forum/images/ranks/star.gif)
![](https://britishexpats.com/forum/images/ranks/star.gif)
Joined: May 2006
Posts: 555
![graz79 is an unknown quantity at this point](https://britishexpats.com/forum/images/reputation/reputation_balance.gif)
![Red face](https://britishexpats.com/forum/images/icons/icon11.gif)
Hi Girls
<--------![LOL](https://britishexpats.com/forum/images/smilies/lol.gif)
Have you missed me ??![Love](https://britishexpats.com/forum/images/smilies/wub.gif)
Thought not
<--------
![LOL](https://britishexpats.com/forum/images/smilies/lol.gif)
Have you missed me ??
![Love](https://britishexpats.com/forum/images/smilies/wub.gif)
Thought not
![Sad](https://britishexpats.com/forum/images/smilies/sad.gif)
![graz79 is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3987
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
Spoke to EA this morning and she has advised to put on market for £209,995 and that this is a bargin....
So we have taken her advice and see if it moves - she is also phoning everyone who has viewed to tell them it has been reduced.
Will update you all if there is any progress.
Lau x
So we have taken her advice and see if it moves - she is also phoning everyone who has viewed to tell them it has been reduced.
Will update you all if there is any progress.
Lau x
![Reedy is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)
#3988
![Default](https://britishexpats.com/forum/images/icons/icon1.gif)
Spoke to EA this morning and she has advised to put on market for £209,995 and that this is a bargin....
So we have taken her advice and see if it moves - she is also phoning everyone who has viewed to tell them it has been reduced.
Will update you all if there is any progress.
Lau x
So we have taken her advice and see if it moves - she is also phoning everyone who has viewed to tell them it has been reduced.
Will update you all if there is any progress.
Lau x
Good luck with the sale!
We reduced ours again too. Just hope it works for both of us.
![Blink](https://britishexpats.com/forum/images/smilies/blink.gif)
![Fly Away is offline](https://britishexpats.com/forum/images/statusicon/user_offline.gif)