The iWorld

Assetz is in the process of raising 20 million pounds for a fund specialising in foreclosed British homes, even though it was still bullish about the outlook for house prices.

Assetz had access to at least 30 repossessed properties each month, about double the rate available a year earlier. According to data from the Council of Mortgage Lenders, repossessions in the second half of 2007 were 0.01 percent of all mortgages whic is double the share two years earlier.

Assetz Chief Executive Stuart Law has informed the marketplace that he is totally confident of raising the money from institutions and private investors and that the fund would have 100 million pounds of firepower with additional debt funding.