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Propertymarket

All articles tagged with #propertymarket

business1 year ago

Lenders Turn Away Homes with Spray Foam Insulation

Homeowners in the UK with spray foam insulation are facing difficulties selling or remortgaging their properties as some major lenders refuse to finance homes with this insulation type. Concerns over improper installation leading to moisture retention and timber decay have led a quarter of the UK's largest mortgage providers to reject such properties. The issue has affected many homes insulated under the government's Green Homes Grant scheme, leaving homeowners like Wendy Rowe and Gary Wright with costly removal and refinancing challenges. The Insulation Manufacturers Association warns against unregulated removal services and emphasizes the importance of proper installation.

via BBC.com|
#business#greenhomesgrant#homeowners
business-and-finance2 years ago

"Zhongzhi Bankruptcy: China's Real Estate Woes Claim Major Wealth Manager"

Chinese wealth manager Zhongzhi has declared bankruptcy amid a severe downturn in the property market, highlighting the risks of shadow banking firms that operate with less regulatory oversight. With liabilities around USD 64 billion and insufficient assets to cover debts, the firm's collapse signals wider financial contagion from the real estate crisis. Investors face significant losses, potentially recovering less than 30% of their funds, and the fallout is expected to negatively impact China's financial sector and associated trade markets, such as the Australian dollar.

via ForexLive|
##bankruptcy#business-and-finance
business-and-finance2 years ago

"Zhongzhi Shadow Bank Bankruptcy Shakes China's Financial Sector"

Zhongzhi Enterprise Group Co., a major player in China's shadow banking sector, has filed for bankruptcy amid the country's ongoing property crisis. The firm, which once managed over $140 billion, admitted to a significant inability to repay its debts, with liabilities ranging between 420 billion yuan to 460 billion yuan, far exceeding its assets of 200 billion yuan. The Beijing court has accepted the bankruptcy case, highlighting the financial turmoil affecting the Chinese economy.

via Bloomberg|
##business-and-finance#chinashadowbanking