Comments on: Lowest number of Mortgage Approvals since records began. http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/ Advice in good times and bad Fri, 16 May 2008 16:33:28 +0000 http://wordpress.org/?v=2.3 By: Grotgame http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-1002 Grotgame Thu, 08 May 2008 12:17:41 +0000 http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-1002 Cheers Dad next out at Anglesey 8th June Cheers Dad
next out at Anglesey 8th June

]]> By: Trumpo http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-990 Trumpo Thu, 01 May 2008 15:21:26 +0000 http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-990 Grotgame... You are on the money as always.. Another 3 lenders this week have packed up and gone home.. it should actually make an advisers job a lot simpler and hopefully enable them to re-establish some sort of focus and normality. p.s. I expect my cheque in the post following my recent advice to you on how to drive a race car quickly.. it obviously served you well. Congratulations on a well deserved P1 at Brands Hatch - I feel like a proud father. Your little Trumpo. Grotgame…

You are on the money as always..

Another 3 lenders this week have packed up and gone home.. it should actually make an advisers job a lot simpler and hopefully enable them to re-establish some sort of focus and normality.

p.s.

I expect my cheque in the post following my recent advice to you on how to drive a race car quickly.. it obviously served you well.

Congratulations on a well deserved P1 at Brands Hatch - I feel like a proud father.

Your little Trumpo.

]]> By: Grotgame http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-989 Grotgame Thu, 01 May 2008 15:00:27 +0000 http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-989 Lets face it there is no single reason why we are in this mess and no single solution to get us out of it and the fact that lenders are reflecting the market place (LIBOR) margins should surprise none of us. Therefore everyone who is trying to help, and that means the BoE and (regrettably) the current chancellor/PM, have a task to rebuild confidence. We in the mortgage market have our own small part to play and I hope trumpo is right when he thinks we have reached the bottom - the last time this happened Bear Stearns were one of the last to leave the market, lets hope that Rooftop's recent announcement is a bit of deja` vue . PS 1st at Brands !! Lets face it there is no single reason why we are in this mess and no single solution to get us out of it and the fact that lenders are reflecting the market place (LIBOR) margins should surprise none of us. Therefore everyone who is trying to help, and that means the BoE and (regrettably) the current chancellor/PM, have a task to rebuild confidence. We in the mortgage market have our own small part to play and I hope trumpo is right when he thinks we have reached the bottom - the last time this happened Bear Stearns were one of the last to leave the market, lets hope that Rooftop’s recent announcement is a bit of deja` vue . PS 1st at Brands !!

]]> By: Jake Brumby http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-987 Jake Brumby Tue, 29 Apr 2008 20:40:29 +0000 http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-987 Who would buy a property now when they can wait another 1 or 2 years and buy the same house for 30% less? I agree with Trumpo that mortgage approvals may have bottomed. The banks panicked in February and March. Nerves have now calmed a little and banks are becoming accustomed to the new state of play. Banks will begin to offer more mortgages but only to A1 borrowers as Trumps says. But I come back to my main point, you'd be crazy to buy a house this year or probably next. So I don't expect mortgage approvals to rise by any meaningful amount for quite some time. Who would buy a property now when they can wait another 1 or 2 years and buy the same house for 30% less?

I agree with Trumpo that mortgage approvals may have bottomed. The banks panicked in February and March. Nerves have now calmed a little and banks are becoming accustomed to the new state of play. Banks will begin to offer more mortgages but only to A1 borrowers as Trumps says.

But I come back to my main point, you’d be crazy to buy a house this year or probably next. So I don’t expect mortgage approvals to rise by any meaningful amount for quite some time.

]]> By: Pip http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-985 Pip Tue, 29 Apr 2008 17:40:58 +0000 http://www.trumpo.com/blog/business/lowest-number-of-mortgage-approvals-since-records-began/#comment-985 Agree with all comments above. As is often the case, those who will end up paying for the banks greed will be the least able to afford it. The banks refinance devalues everyone else's assets. I also have been (finally proven right that the housing boom had to come to an end and far to many people were trying to take massive risks, with the complicity of the lenders and the tacit agreement of the FSA who for a change were working on caveat emptor, not recognising that the risk of over lending spills over in to the rest of the economy when the rounds of pass the parcel come to an end! Even a child should have seen that "off balance sheet" was a recipy for disaster in the end if it was simply a packaged parcel which a middle man then certified and passed back in tranches to similar institutions! Agree with all comments above. As is often the case, those who will end up paying for the banks greed will be the least able to afford it. The banks refinance devalues everyone else’s assets.
I also have been (finally proven right that the housing boom had to come to an end and far to many people were trying to take massive risks, with the complicity of the lenders and the tacit agreement of the FSA who for a change were working on caveat emptor, not recognising that the risk of over lending spills over in to the rest of the economy when the rounds of pass the parcel come to an end!
Even a child should have seen that “off balance sheet” was a recipy for disaster in the end if it was simply a packaged parcel which a middle man then certified and passed back in tranches to similar institutions!

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