What's really going on with the NAB property book in the UK

What's really going on with the NAB property book in the UK. Cooper Investors who Manage $8BN, visited the UK recently to meet with property firms and develop a view on NAB's very large commercial real estate problem loans. Cooper says The NAB property book is spread across all markets outside London and is certainly not prime in nature, however it is clear that there are buyers of properties in virtually all UK markets... and property loan books from banks. We therefore feel quite confident that the write-downs of the NAB commercial real estate loan book have finished and the negativity around this issue should be consigned to the rear vision mirror by investors. We feel that investors should be contemplating the long awaited exit by NAB from the UK, and if this happens in the next year or two there would likely be a rerating of NAB.


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