A lot of newpapers are quoting that approx. one third of NAMA property is in the UK with figures of €22bn being thrown around for London alone.
What effect will NAMA have on the UK?
There is a view that if NAMA doesnt get off the ground - ACC etc. - then there will be a further property collapse in London which will have the effect of making most UK banks insolvent. If ACC is successful, it would lead to a fire sale in London which, due to the volume of property involved in the fire sale, would set new benchmark valuations for London properties which would be much lower than those recorded on UK banks books even post nationalisation.
Is the UK Government, as the biggest bank owner in the UK, working behind the scenes and trying to use its influence to make sure NAMA happens?
What effect will NAMA have on the UK?
There is a view that if NAMA doesnt get off the ground - ACC etc. - then there will be a further property collapse in London which will have the effect of making most UK banks insolvent. If ACC is successful, it would lead to a fire sale in London which, due to the volume of property involved in the fire sale, would set new benchmark valuations for London properties which would be much lower than those recorded on UK banks books even post nationalisation.
Is the UK Government, as the biggest bank owner in the UK, working behind the scenes and trying to use its influence to make sure NAMA happens?