More Brits buying homes in the French Alps

International Estate Agent Today

There has been a sharp increase in the number of Brits buying homes in France, particularly in the Alpine region, according to French property developer MGM.

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Overseas bargains to be had

Best Advice

Connect Overseas is advising introducing brokers and their clients to look seriously at property investment in Europe in the wake of the deepening euro crisis.

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World's top banks hit with Moody's downgrade

Yahoo Finance

The health of 15 of the world's largest financial institutions has been called into serious question after Moody's downgraded their credit ratings, citing risk exposure and the eurozone crisis.

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Bank of England Unveils £5bn Lending Scheme

Sky News

The Bank of England (BoE) has confirmed it will set aside £5bn each month as part of a new lending scheme aimed at helping British banks.

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Vendors drop asking prices in record numbers according to leading portal

Spanish Property Insight

Vendors have been reducing their asking prices in record numbers, and by record amounts, according to the property portal idealista.com. Year-on-year, price reductions in May increased by 54pc in volume (green chart) and by an average of 12pc in value (red chart). Almost 9pc of vendors listing with Idealista dropped their asking prices in May

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London Tax clampdown on overseas buyers

Money Week

There is to be a 15% stamp duty charge on houses worth more than £2m which are bought and sold via companies. Capital gains tax (CGT) has also been extended so that any sale of a house via a non-resident company will be taxable at the usual rate (note that at the moment non-UK residents don’t pay CGT at all).

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What does €100bn bailout mean for Spanish property market?

Property Overseas Today

Bad property loans have been at the heart of Spain’s problems in recent years and now finally the Spanish government has asked for a European bailout of up to €100bn (£81bn) to save its banks.

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Dubai Banks Set to Launch New Mortgage for Foreigners

Property Abroad

Several Dubai Banks are on the verge of launching a new mortgage product especially designed for foreign buyers looking to purchase property in the emirate. When the global financial crisis hit Dubai it caused mortgage financing to grind to a halt, and property prices fell by more than 60%.

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Connect Group announces restructure

My Introducer

The Connect Group, has announced the appointment of Kevin Ward to head up the Connect Mortgage Club, which is a new buy to let and bridging service aimed exclusively at the broker market. In tandem with this appointment, Geoff Simmonds has been appointed the new manager of Connect Overseas.

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