Germans Approve Bailout Package
I hope you are enjoying this late summer and making the most of it before the real weather sets in. It was 27C in Liverpool yesterday and as I write I think we will top that today.
The German parliament or Bundestag has this morning approved the expanded powers of the ‘bailout’ fund and increased German commitments from 123bn euros to 211bn. I‘m not sure what Mr and Mrs Schmidt makes of it all, but for now it looks likely that Greece will receive more funding through this mechanism and through the IMF.
Inflation continues to concern policymakers in UK and overseas and as I noted earlier this week, we have seen a flight to high yielding HMO properties by individual investors. The latest view on the Bank of England base rate is that there will be no rise for the foreseeable future, with some commentators pointing to 2014 as the most likely year! This is all good news for property investors.
At Bold Spirit we have seen a steady trickle of more repossessed stock hitting the market as banks unwind their positions and in some cases crystallise losses. Whether stock in is London or further afield, we have seen strong interest for keenly priced, high yielding properties.
We also have access to banks which will lend on strong yielding schemes immediately after completion if you use bridging finance or cash. This new facility allows cash rich investors to secure repossessed stock and immediately pull out their funds for further investment. This is an exciting development and illustrates that some banks have an appetite for lending.
We are presently conducting due diligence on a number of projects, examples of which are on our website below.
Article Courtesy of Dominic Farrell @ Bold Spirit
