I’m not sure I get your point. Are you trying to say that for non paying customers the banks would prefer to keep loan on its books and borrower living in it rather than liquidate the asset and reduce the loan by the asset value?
If so your absolutely incorrect. Have a flick through seamus coffeys twitter and blog for an idea how many cases and how much money is being spent by the banks trying to get these assets sold. The scale of it is unreal. There are literally thousands of people living in houses around the country who have paid nothing in many years and the houses can’t be repossessed due to court system
If you are talking about people struggling with repayments that’s a different story. But banks not even trying to repo them by an large coz they know they have no chance and regulator forces them, rightly, to bend over backwards to find a consensual solution
Maybe what I’m saying is now out of date with the increase in property prices. The banks were refusing to seek repossessions for a good while in the last few years due the amount they’d have had to write off the debt.
After the initial panic subsided, equity and bond markets have now concluded that Brexit is likely good for the UK and really bad for the EU. The stock market can be occasionally wrong, but the bond market is rarely wrong. Fantastic money to be had shorting volatility after the open today, well done England.
You would need your head examined to go near anything relating to a bank or financial services for the foreseeable future. It’s only a matter of time before Europe has a Lehman moment.
Nothing I say should be taken as a recommendation or solicitation to purchase stocks. The value of your investments may rise as well as fall. Julio Geordio is an unregulated entity.
I see Taylor Wimpey is down 27% today…seems excessive. How much of their building projects are outside of the UK? Surely they have got far more compeditive now when quoting for non sterling work?
Their investor relations section of their website should have all that info for you mate. From the top of my head they are only in the UK & Spain and a lot of their properties in Spain are built for the UK market, so bad GBP would be bad for them too. I think everything is overdone though
