Published: 21st October 2009
Banks offer investors money to buy “anything”
Banks, under pressure from the UK government for not lending enough are offering “low risk” investors money to buy “anything” according to a fascinating report by London’s Evening Standard.
One high profile individual said he takes regular calls from his bank informing him it is desperate to lend him money. When he asked what for, the bank said “anything”. Property, bonds, shares, it did not matter.
In many cases, investors find the offer too tempting to refuse. They reason that if the bank loan costs them 1.5%, they ought to be able to do better than that in the stock market or property. So they can invest the money and turn a profit.
Investor-driven market
If you have the right connections and offer the right product, it seems the overseas property market is alive and well. Industry dynamics have certainly changed drastically over the last 12 months. Second home buyers are thinner on the ground, although some
segments like retirement have been stronger than others.
Investors, driven by more rational investment criteria have become ever-more important and agents that have diversified into distressed sales tend to be faring better than the more traditional overseas property agent.
Further coverage from
The Evening Standard
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