Vol 6 Chapter 372: Siti Kensington Gardens Mansion

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It was a bitter rain that London used to greet Feng Yiping on March 12, just like many Londoners feel at this time.

London, or the entire United Kingdom, this spring, it can be said that it is all in a bitter wind and rain.

It is not easy in the United Kingdom. It originated from a couple who inadvertently became famous.

On September 14th last year, the Howards of the United Kingdom went to their bank, the fifth largest mortgage bank in the UK, Northernrok (also translated as Northen Rock), when they were about to withdraw their £1 million deposit on their account. , But was rejected by the bank.

Everyone knows the mood of the depositors under such circumstances. After all negotiations failed, the two old men blocked the bank manager who had been very familiar with them for decades.

Beiyan Bank also played their true qualities as a “vulnerable group” and rescued the bank by calling in the police.

As soon as the incident was reported by the media, it immediately incurred very serious consequences. The share price of Beiyan Bank fell by one-third before the market closed that day.

Therefore, the British stock market fell across the board that day, and even the pound exchange rate also fell.

And from the second day onwards, before all the outlets of North Rock Bank in the UK, at 5 o'clock in the morning, all the long dragons who came to withdraw cash were discharged. The panicked people hoped to get their hard-earned money in their hands. .

Like the Howards, many people’s deposits in North Rock Bank are all their savings.

According to the British Financial Compensation Regulations, if a bank fails, depositors whose deposits are less than £2,000 can receive full compensation.

However, if the deposit exceeds 2,000 pounds, the upper limit of compensation is 35,000 pounds, and the part exceeding 2,000 pounds can only get 90% compensation.

In other words, depositors of 35,000, 350,000, 3.5 million pounds may end up with only 31,700 pounds in compensation.

After the Howards were unable to withdraw their 1 million pounds, who would dare to deposit the money in North Rock Bank?

So soon, as of September 16, two days later, North Rock Bank paid more than 12 billion pounds to depositors, which was already half of the deposits taken by their bank.

After that, North Rock Bank had to ask the British government for help.

In the face of such a run frenzy that had obviously affected other banks, on the evening of September 17, the British government publicly guaranteed Beiyan Bank for the first time ever.

The Ministry of Finance of the United Kingdom also publicly stated on TV that it will provide deposit account guarantees for North Rock Bank and any other banks that encounter the same problem, and immediately ask the Bank of England, which is responsible for the Bank of England, to provide North Rock Bank with a specific amount of confidential loans. The situation finally eased.

But since then, the British, who used to be on the sidelines, finally experienced the chill brought by subprime mortgages.

In fact, people who have some knowledge of the securities market should have anticipated such a situation long ago, because in the global capital market, the US real estate financial market occupies a very important position.

This means that any institutional investor who wants to build up their own asset portfolio on a global scale has to consider buying US real estate financial products just like central banks have to buy US Treasury bonds.

And now the US real estate market and the deterioration of real estate securities will naturally cause some British banks to suffer great losses, which will directly affect the safety of British people's bank assets and the value of fixed assets.

From the current developments in the British newspapers and the Internet, one can clearly draw a conclusion. This should be the time when the American brother whom the British hated the most since the American War of Independence should now be called the American Big Brother, or the American master.

Huang Jingping put down the newspaper, glanced at Hamm, the head of the British company sitting quietly in front of him, and asked Feng Yiping in his hometown dialect, "America, has it really done Britain so badly this time?"

"The two of them are actually brothers. Don't talk about them. In terms of houses, the problems in the UK are also very big," Feng Yiping shook his head.

In fact, the UK is even better than the US in terms of subprime loans.

According to what he learned, 100% mortgages are common in the UK, and 125% mortgages are also common.

That is, if you plan to buy a house worth 200,000 pounds, you can bring out 250,000 pounds from some banks.

The extra £50,000 can be used to do whatever you want, such as supercars and other luxury goods, or just like New York Governor Spitzer, who officially announced his resignation yesterday, spend it on finding small Sister enter.

By the way, when Spitzer fell into the mud from the clouds, the young lady named Ashley who spent time with him on February 13 quickly became popular, and the number of visits to faebook and blogs suddenly increased. Having become a small internet celebrity, I really miss those ex-girlfriends of a so-called "principal".

She may be one of the few people at the bottom who can counterattack in the subprime mortgage crisis.

But many middle-class people in the UK, even wealthy families, do not have as good luck as her.

In the UK, a middle-class family is defined as having an annual income of about 40,000 pounds. The annual income of a wealthy family is about twice that of the ordinary middle-class family and more than 80,000 pounds.

Since the fourth quarter of last year, real estate prices in the UK have fallen for five consecutive months.

The British people also don't have the good habit of the people of the Chinese dynasty who like to save. Most people also eat their own food. Therefore, for many families, real estate is also their greatest asset.

House prices fell, and a large number of British people went bankrupt.

According to estimates by KPMG, affected by the subprime mortgage crisis in the United States, one person in the UK currently falls into bankruptcy or other insolvency every four minutes.

Data from the Bankruptcy Department of the British Government shows that there have been 25,264 cases of insolvency in the United Kingdom this year, of which 15,651 have filed for bankruptcy, and 9614 have applied for “individual voluntary arrangement” (iva) iva as a debt restructuring program to allow debtors to pay within 5 years Pay off the arrears on a regular, fixed interest, and fixed amount basis.

But this is not the worst. The British "Daily Mail" quoted expert analysis as saying that this is just "the peace before the storm", and the number of insolvents will increase sharply, and this trend will even continue into 2009.

Another related data is even more worrying. The debt situation of British debtors has reached a "terrible" level. Excluding mortgage debt, the average debt per person is nearly 50,000 pounds!

In other words, the average person’s debt has exceeded the income of most families in one year.

This is also the bitterness of the British people who use their personal homes as money-making machines (I don't know if we will have such a day).

But it is precisely because of this that it is possible for Feng Yiping to buy a property in London so quickly.

The convoy finally drove into Kensington Garden Street, which he visited last year~www.wuxiaspot.com~. In the rainy day, this luxury residential area in central London was exceptionally quiet.

Huang Jingping looked at the luxurious British mansions on both sides of the road, looked at the one or two cars passing by sporadically on the road, turned around and asked Feng Yiping, "How do I feel like I'm on a set?"

Indeed, it looks a bit like those domestic film and television bases.

"Yes, it's just that the protagonist of this set is the British Royal Family," Feng Yiping pointed towards Kensington Palace in front.

Hamm turned his head at this moment, "Mr. Feng, your home is here,"

The car parked in front of a palace-like building, even in rainy days, the appearance of the entire mansion still looks very elegant.

In Feng Yiping's eyes, this house is faintly shining with golden light, because this can be said to be his largest investment in a home, and the price is close to 40 million pounds!

And this is the price of the last homeowner who was in desperate need of capital turnover and hit a 25% discount.

This house has four floors, with gardens at the front and rear, and a garage underneath, covering an area of ​​more than 1,300 square meters.

Although housing prices in the UK will definitely fall in the future, given that the luxury homes here have always been scarce resources, and the luxury homes here will definitely not fall by more than 25%, although Feng Yiping feels a bit painful, he still hears After Hamm's report, he quickly decided to start.

He believes that after a few years, if you want to sell it and earn 10 million pounds, it will not be difficult.

Huang Jingping held Feng Yiping's arm, "This is our home in England?"

"Yes," Feng Yiping patted her hand.

At this time, under the leadership of an old butler wearing a tuxedo, three women and two men, plus the old butler, a total of 6 service staff have stood in front of the door to welcome them.