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Banks Increasing Dep;osit For Spain And Even Gibraltar!

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Had a chat with my new personal banker yesterday (big 4 bank..not UKPLC owned). They said they would only lend a maximum of 50% (down from 85%) on any Spanish property as they were forecasting a further 45% drop in prices and would only lend a maximum of 80% (down from 95%) on a Gib property as they are forecasting a drop of 10-15% as a result of tougher lending criteria.

Only A+++ Customers get these deals with a decent fixed rate. Anyone outside the A+++ rating will struggle! To me this means that the Spanish Market will retreat dramatically as how many people have a 50% deposit. At current Prices I have 15%.....

Also interesting that the Untouchable Gibraltar is looking wobbly. Mainly due to the number of Locals buying off plan and trying to flip them. They put 5% down, have no other cash and the banks want a further 15% to allow therm to complete. As a result a good percentage (40% ish) are not completing. A key developer is Taylor Woodrow. In the next 2 years over 1000 new flats coming on the Market of which 75% have been pre-bought....so about 300 properties will be defaulted on!

Tough times for Investors and Gamblers who got out of their depth...


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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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