Talking Finance: It pays to know if your write-down is worth it
Free money is always worth looking into, but the ‘time value of money’ must be taken into consideration first
One of the most frustrating things I come across as a financial adviser is watching a bank refuse to write down a loan and then selling that same loan, usually making a loss. The frustrating bit is what comes next.
The bank absorbs the loss. Then a distressed debt buyer (sometimes referred to as ‘vulture’) comes along, buys the loan and offers the borrower a write-down.
Most of the banks realising these losses...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Private rental sector remains strong despite Covid-19
Demand continues to outstrip supply in both residential and PRS markets, while developers adapt new build designs to take the pandemic into account
How the programme for government will shape housing
Several strategic changes offer an opportunity for positive reform of planning and development
Comment: US must defuse Covid-19’s ticking time bomb of debt
The United States cannot defeat the pandemic like a military foe but it can learn from looking back at its post-war economic recovery