Musings of a London Property Search Agent

The four month deadline for lenders to join the Mortgage Support Scheme is up and surprise surprise, pretty much only the nationalised banks have agreed to join.  The government has supposedly claimed that the scheme will cover 80% of mortgages, but since the self-employed aren’t really covered and two of the biggest mortgage lenders, Abbey and Nationwide have not signed up, we would suggest that figure is pure fantasy.

Other lenders who haven’t signed up include Barclays, HSBC and the Post Office, although supposedly the Post Office will offer the scheme ‘as soon as possible’.  So don’t hold your breath.  When you have secured your finances the call this London Property Search Agent for a rapid move

Technorati Tags: London property, london property news, London Property Search Agent, Mortgage support scheme, mortgages

Tags: London property, london property news, London Property Search Agent, Mortgage support scheme, mortgages

Musings of a London Property Finder

In 2008 Foxtons lost approximately half their staff but it wasn’t enough and now BC Partners who bought the infamous estate agents at the height of the property market in June 2007, are seeking a debt for equity deal with lenders.  In a piece in The Guardian newspaper yesterday, the value of the debt to be written off is estimated at £60-£90 million. 

Tellingly Andrew Newingly, BC Partners London head admitted for the first time earlier this year that the firm “had got it wrong”, and that the £370 million purchase of Foxtons had been a mistake.

So for those readers who bought at the top of the market in 2007 just think – it could be worse: you could be down £370 million, not just a few hundred thousand.  And at least you have somewhere to lay your head at night!

And for those of you wishing to dispose discretely of prime London property, or to rent your abode to one of our fabulous tenants, we are the favourite London Property Finders of several discrete top end companies and would be delighted to deal directly with you.

Technorati Tags: Estate Agents, Foxtons, London Property Finder, London property finders, london property news

Tags: Estate Agents, Foxtons, London Property Finder, London property finders, london property news