Vision for an independent organisation to represent UK landlords20:18 PM, 16th September 2018
About A week ago 62
US firm Cerberus which have been accused of alleged bribery, conspiracy to defraud, blackmail, unethical practice, fraud etc. could get its hand on the Mortgage Express and Northern Rock loan portfolio.
Cerberus, named after the three headed dog of the underworld, are ruthless and allegedly employ their own commercial spying shop in London. They have managed to muscle out others in bidding for the HM Treasury book of loans to get “preferred bidder” status, something they have done before, and with that a vast proportion of Buy to Let landlord mortgage portfolios (Mortgage Express being for a long time the fastest and offering the best rated mortgages).
The current wheezes by UK investments to lighten the Buy to let portfolio would be nothing to a firm that bought Chrysler cars in the US and General Motors car financing arm, and allegedly blackmailed General motors by not providing finance. Nor the controversial buying of Leumi Bank from Israel.
HM Treasury could be conflicted and it has been suggested they are accounting blind. Selling an asset makes a person neither richer nor poorer, they just have their asset in a different form.
Collectively we all need to act now to save a decent asset in relatively trustworthy hands versus in American parlance a “bad actor” that may ruthlessly exploit British owners, businesses and the country for its own ends.
I suggest a swift campaign on HM Treasury and political parties and committees to throw out Cerberus as a bad actor from the process.
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