mehr kreative finanzierungsformen uk

immer wenn man meint das in sachen kreditwahnsinn das ende der fahnenstange erreicht ist kommt der nächste knaller.

http://www.ft.com/cms/s/6e7f9fbc-1ffa-11db-9913-0000779e2340.html


Morgan Stanley to help home buyers

highlights:

Morgan Stanley, the US investment bank, is set to launch a product aimed at allowing homeowners to borrow much more money than traditional lenders permit, in exchange for giving up some of the future increase in the value of their houses. (ne klasse idee auf dem höhepunkt der blase)

The move is likely to be followed by other lenders as banks seek new business without straining lending criteria. But it could fuel further house price inflation as buyers chase properties with ever-deeper pockets. It will also leave more homeowners exposed to falls in house prices. (ist so ähnlich als wenn man zu dot.comzeiten die kreditlinien auf wertpapierkrediten erhöht hätte damit man jdsu noch weiter pushen kann)

The launch comes as Yvette Cooper, housing minister, is expected on Monday to call for more private sector lenders to become involved in similar schemes to help people buy homes. (uk hat einen extra housingminister? das erklärt einiges....wäre auch ne idee für die usa)

Advantage, the new mortgage wing of the US-based investment bank, is aiming its “Flexishare” product at anyone who cannot borrow enough conventionally to buy the home they want. (mal überlegt was zu mieten bzw. ne kleinere hütte zu kaufen)

Morgan Stanley would then take a proportion of any rise – or fall – in the price of the home. (macht sich sicher gut in den bilanzen wenn der markt demnächst implodiert)

As an example, a home bought for £200,000 and sold after doubling in value to £400,000 would provide the lender with up to £70,000 of the capital gains, leaving the homeowner £130,000. If the home halved in value, say to £100,000, the lender loses £35,000 and the homeowner £65,000.

Morgan Stanley is likely to insulate itself from any lending risk by processing the loans through the capital markets, although not necessarily through securitisation. (schon klar das morgan stanley das ganze weiterplatzieren möchte. bloß wer ausser evtl. verzweifelte hedgefonds soll dieses schrott kaufen. wahnsinn)

Copyright The Financial Times Limited 2006

muß gestehen das ich gedacht habe das dieses ein produkt für die usa sind. bin geschockt das dieses konzept wirklich für uk ist. evt. sehen wir das ganze ja demnächst in den staaten.

gruß

jan-martin