Property Bets

Nick Leslau has taken a small punt that house prices will rise again.

When we say small punt, we really mean a £234m bet with one of the largest re-insurance companies, Swiss Re.

The deal is based on a portfolio of 3,400 properties owned by Swiss Re, where equity will be released back to the homeowner seeking a lump sum of cash. Swiss Re and its shareholder will be entitled to a share of the property.

When the property is sold in the years to come, Swiss Re and in this situation Leslau's company Prestbury will be entitled to a percentage of the sale, where it is hoped there will be a rise in the the capital growth of the property.

This ten year bet is considered to be the largest residential property deals in the UK this year.

We will be sticking to our forecast at Walthamstow dogs on a Tuesday night...