Bloo Loo Posted September 26, 2010 Share Posted September 26, 2010 this is not new.. and its very common this sentiment that the Banks MUST lend or we CANT AFFORD the high prices. stoopid people. Quote Link to comment Share on other sites More sharing options...
ShedDweller Posted September 26, 2010 Share Posted September 26, 2010 The public can’t accept that banks have to lend against risk and for the last twenty to thirty years so as to cut margins they’ve turn to software. The fault with that policy is that the software can easily fail to take that risk into account and then the bank is stuffed. As they are having to burn the proverbial candle at both ends no wonder they don't want any further risk on their books, if they did their savers rates would be higher. My feeling would be that in the old "Mr Mainwaring" type of world this chap would not have got a look in. A property developer is really a "speculative builder" and that is by it's very nature a very very risky business. Certainly not the sort of thing that a local branch of a big bank should be getting involved with .. The main talent required to be a property developer is to find the funds both to purchase the property and to renovate it. If the bank is going to take a risk on it then they will expect to get a suitable reward if it all goes well .. because if it goes nipples up then the bank is the only one who will lose money .. Quote Link to comment Share on other sites More sharing options...
jplevene Posted September 26, 2010 Share Posted September 26, 2010 Truth is, the banks really have no choice. One of the new regulations coming in is the ratio which banks have to hold back on lenfding. At the moment, Brown & Blair dropped any ratio and if a bank has £100 deposited, it can lend £100. What the bank then does is that it has security to the value of the loan so it then lends the £100 again, then again and again.... Some banks have even lent the same £1 upto 6o times. Now that they are going to have to hold money back for security, talk of 10% which I even feel is too high and I hate banks, 5% would be better. The situation would then change so that they had a £100 deposit, they could only lend £90, then with the £90 security, they could then only lend £81, and so on. The problem here is that the banks are currently not limited to how much they can lend, and have acted accordingly and irresponsibly. Soon they will be limited to how much they can lend, so they need to build up capital and get within the ratio by the time the regulation comes in. Making huge profits is one way, paying huge bonuses is not. Lastly, if I was a bank I wouldn't lend on property speculation at the moment, would you when prices are falling? Quote Link to comment Share on other sites More sharing options...
The Preacherman Posted September 26, 2010 Share Posted September 26, 2010 Looks like Cameron Hope has a history of self publicising. How much is that graffiti in the window?A BOURNEMOUTH artist has done a Banksy and made himself £10,000 in the process. Cameron Hope was astonished when his graffiti-art treatment of an old picture of the Studland Dene Hotel in Bournemouth sold to an anonymous buyer. The piece, which was painted shortly after development plans began for the hotel site, was picked up at an exhibition held last month in a Poole Road gallery, Westbourne. Cameron, whose collection includes mainly city scenes and coastal canvases, spray painted the phrase “sold for development” over the black and white image after the hotel was demolished two years ago. He never expected to get any interest in it: “I painted it for the owner of the hotel at the time and he didn’t like it so I painted over it and put it in my garage. “When I held the exhibition, I never imagined anyone would buy it,” he said. “Let alone for such a high price.” He added: “The most I have ever sold one of my paintings for was £2,500.” The site on Studland Road is currently being developed into a block of flats and restaurant. The buyer of the painting remains anonymous. http://www.bournemouthecho.co.uk/leisure/art/4656678.How_much_is_that_graffiti__in_the_window_/ This is Cameron Hope's art website. And this is the developer of the Studland Dene Hotel. Are the two connected? Quote Link to comment Share on other sites More sharing options...
wealthy Posted September 26, 2010 Share Posted September 26, 2010 bank v property developer. a story which evokes no empathy in me whatsoever Quote Link to comment Share on other sites More sharing options...
Oh Dear Posted September 26, 2010 Share Posted September 26, 2010 (edited) bank v property developer. a story which evokes no empathy in me whatsoever Struggling too, at least the quality of the wall is funny. (edit spelling) Edited September 26, 2010 by Oh Dear Quote Link to comment Share on other sites More sharing options...
shindigger Posted September 26, 2010 Share Posted September 26, 2010 **** him and his £40k on "a property he already owns". And ****** the banks too. Theres no way people should get behind this guy as a poster boy to bash the banks. Hes part of the problem, not the answer. Get back to Sandbanks. .******er. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 26, 2010 Share Posted September 26, 2010 **** him and his £40k on "a property he already owns". And ****** the banks too. Theres no way people should get behind this guy as a poster boy to bash the banks. Hes part of the problem, not the answer. Get back to Sandbanks. .******er. I reckon the banks will happily take it as a decoy for the tories to win the next election, in the banks' best interest Quote Link to comment Share on other sites More sharing options...
Nationalist Posted September 27, 2010 Share Posted September 27, 2010 Most of HPC has been predicting that cash will become king. And now it's coming true. If you're holding the folding you're laughing; if you're hoping someone will lend it to you then you're out of luck. Oh, and this is at a base rate of 0.5%. As rates rise loans get HARDER to find. Quote Link to comment Share on other sites More sharing options...
darwin Posted September 27, 2010 Share Posted September 27, 2010 Looks like Cameron Hope has a history of self publicising. This is Cameron Hope's art website. Eww, pretty cheesy stuff. Quote Link to comment Share on other sites More sharing options...
singlemalt Posted September 27, 2010 Share Posted September 27, 2010 Bricked up a branch of Barclays bank? Placards saying 'robbed by the banks we own'? Errr someone please correct me if I'm wrong but wasn't Barclays (and HSBC) just about the only bank that didn't receive direct government assistance? These people are muppets! They sound like that lynch mob who turned up on that 'paediatricians' door step when The Sun printed the names of those child abusers. Quote Link to comment Share on other sites More sharing options...
Laura Posted September 27, 2010 Share Posted September 27, 2010 And Deputy PM Nick Clegg insists the coalition is working 'flat out' to get banks lending again to small businesses A heart stopping moment as Clegg confirms his shadow elite's puppet status, just in case anyone didn't know Quote Link to comment Share on other sites More sharing options...
wealthy Posted September 27, 2010 Share Posted September 27, 2010 Looks like the story has been updated with these little snippets of information Mr Hope, who runs a portfolio of seven properties with his wife Christine He said he reached the end of his tether after he lost out on a lucrative property deal because his bank, HSBC, would not match half the funding for it. ‘We had agreed to buy the plot of land which, with planning permission alone, was worth more than £1million,’ he said. ‘We had raised £200,000 and all we wanted was £200,000 from HSBC. They took our application on and at first made positive noises about it, then got their own valuation done and then they just said no. My heart bleeds for you Mr Hope Quote Link to comment Share on other sites More sharing options...
Lennon Posted September 27, 2010 Share Posted September 27, 2010 (edited) If the banks weren't lending as they should, wouldn't people be able to find genuine Small businesses that are being troubled? The small corner shop whose trade is unchanged, but suppliers insist on tighter payment deadlines and the banks cut the overdraft which they use for working capital requirements for example. If all they can come up with is a***h***s who want to borrow money to buy land because they value it at stupid prices then the banks are seemingly doing the right thing... Oh - and 'banks that we own' and protest outside Barclays revealed the lack of intelligence of the protestor in my mind. EDIT: http://www.bbc.co.uk/news/uk-england-dorset-11417204 is the story on the BBC - which in fairness makes the developer sound like an idiot and Barclays spokesman the sensible one... Edited September 27, 2010 by Lennon Quote Link to comment Share on other sites More sharing options...
GordonBrownSpentMyFuture Posted September 27, 2010 Share Posted September 27, 2010 This is going to be discussed on Jeremy Vine, Radio 2, at 1.30pm today... http://www.bbc.co.uk/radio2/shows/jeremy-vine/ 0500 288291 88291 Quote Link to comment Share on other sites More sharing options...
Kyoto Posted September 27, 2010 Share Posted September 27, 2010 (edited) This is going to be discussed on Jeremy Vine, Radio 2, at 1.30pm today... http://www.bbc.co.uk/radio2/shows/jeremy-vine/ 0500 288291 88291 Just emailed the following in: ----- Mr Hope is a Buy To Let property developer, who according to the Daily Mail, owns a portfolio of seven properties. Even the taxpayer assisted banks (of which Barclays are not one) have no moral responsibility to support Buy To Let landlords who profit at the expense of first time buyers. Im glad Barclays kept the 200k where it could perhaps be put to better in supporting a proper small business. In fact, I would probably rather see it go on a bankers bonus than to enrich a buy to let property developer. ----- Not sure if I missed the segment but the sentiment was there Edited September 27, 2010 by Kyoto Quote Link to comment Share on other sites More sharing options...
Kyoto Posted September 27, 2010 Share Posted September 27, 2010 On next - get your comments in! Quote Link to comment Share on other sites More sharing options...
wealthy Posted September 27, 2010 Share Posted September 27, 2010 If the banks weren't lending as they should, wouldn't people be able to find genuine Small businesses that are being troubled? The small corner shop whose trade is unchanged, but suppliers insist on tighter payment deadlines and the banks cut the overdraft which they use for working capital requirements for example. If all they can come up with is a***h***s who want to borrow money to buy land because they value it at stupid prices then the banks are seemingly doing the right thing... Oh - and 'banks that we own' and protest outside Barclays revealed the lack of intelligence of the protestor in my mind. EDIT: http://www.bbc.co.uk/news/uk-england-dorset-11417204 is the story on the BBC - which in fairness makes the developer sound like an idiot and Barclays spokesman the sensible one... Not only has he bricked up Barclays he's annoyed because HSBC turned him down for a 200K loan to develop property when the economy and housing market are unstable. What a prize plonker Quote Link to comment Share on other sites More sharing options...
lets get it right Posted September 27, 2010 Share Posted September 27, 2010 As rates rise loans get HARDER to find. Why's that then? As rates rise, savings rates rise and more people leave their money in the bank to get (what they think is) a risk-free return. Low rates make loans harder to get as people keep taking their cash out of the banks and buy property with it. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted September 27, 2010 Share Posted September 27, 2010 Most of HPC has been predicting that cash will become king. And now it's coming true. If you're holding the folding you're laughing; if you're hoping someone will lend it to you then you're out of luck. Oh, and this is at a base rate of 0.5%. As rates rise loans get HARDER to find. We just have to hope that if(when) QE2 comes along, how it will be spent will be modified from snot gobblers moronic kneejerk approach of distributing it within the current framework ie most of it ending up in houses. Given that recessions tend to have excess capacity, it needs to go into sectors that have been starved of investment over the past ten years or so. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted September 27, 2010 Share Posted September 27, 2010 Looks like all those ad campaigns about how bankers are loveable and helpful aren't quite cutting it, judging by the public support this little stunt seems to have generated. Expect more calls from the bankers to 'put the past behind us' and 'look to future'- anything in fact rather than deal with the reality that they looted the country for their own gain. I think its a kind of Roaul Moat thing. We hate the police/banks so much, its rendered our abilities to fathom logic impotent, rather than actually supporting the individual. Quote Link to comment Share on other sites More sharing options...
tim123 Posted September 27, 2010 Share Posted September 27, 2010 http://www.dailymail.co.uk/news/article-1315340/Businessman-furious-banks-refusal-lend-bricks-Barclays-branch-protest.html# So he wanted to borrow 200 grand to help pay 400 grand for a plot of land worth 1 million (with PP) and the bank wouldn't lend. Why does he think that might be? Looks like a no-brainer to me! If there was an easy 600 grand in this why hasn't the current owner got the PP? tim Quote Link to comment Share on other sites More sharing options...
sun n sea Posted September 27, 2010 Share Posted September 27, 2010 Just emailed the following in: ----- Mr Hope is a Buy To Let property developer, who according to the Daily Mail, owns a portfolio of seven properties. Even the taxpayer assisted banks (of which Barclays are not one) have no moral responsibility to support Buy To Let landlords who profit at the expense of first time buyers. Im glad Barclays kept the 200k where it could perhaps be put to better in supporting a proper small business. In fact, I would probably rather see it go on a bankers bonus than to enrich a buy to let property developer. ----- Not sure if I missed the segment but the sentiment was there Cameron used to own/ operate a bar in Bournemouth when I used to know him. As far as I can remember he's actually quite a nice bloke. Sadly it appears that after moving to Bournemouth from Coventry he's fallen in with the Bournemouth ponce brigade... the kind of tossers like Mr Carr who only value pwoperty speculation and a loads of money life style complete with Orange misses and the ubiquitous range rover sport. As far as the publicity stunt goes he's made himself look thick as mince... Barclays aren't state owned and anyone with common sense can see B'mth is awash with unsold property... hardly surprising that the banks aren't lining up to lend even more into the Black hole which is property. More importantly the line that "banks aren't lending" is simply not true... banks will lend but only to quality businesses with a strong balance sheet and proven track record. Quote Link to comment Share on other sites More sharing options...
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