Saturday, Dec 15, 2007
B&B one step closer to call in the cleaners
FT: Moody's puts B&B under ratings review
... or, in the best case, the bank will have to stop lending to the BTL sector, now increasingly seen as the British sub-prime. Along the same line we can interpret the desperate attempt by BB management to talk up the rental sector. Unprecedented for a UK bank, last week the top management of BB released a festive market outlook for BTLetters of which I will post links in the comments. Banks are banks and generally want to be seen neutral, but of course that is different if you are that close to receivership. We would welcome some sign the FSA aren't already asleep for the Season.
Posted by confused76 @ 04:05 PM (381 views) Add Comment
2 Comments
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1. confused76 said...
B&B desperation:
Bradford and Bingley: Buy-to-let remains sound
Thursday, 13 Dec 2007 10:02
http://www.aboutproperty.co.uk/news/property-investment/buy-let/bradford-and-bingley-buy-let-remains-sound-$483117.htm
Landlords remain upbeat
New data from Bradford & Bingley reveals that property investors remain confident about the prospects for the buy-to-let market in 2008,
http://www.moneyextra.com/news/news-landlords-remain-036666.html
Buy to let investors prepared to weather storm for long term benefits
http://firstrung.co.uk/articles.asp?pageid=NEWS&articlekey=8665&cat=44-0-0
2. denzil said...
About a month before the proverbial Northern Rock poo hit the fan, I was told from a very good source during a drunken evening about two lenders who were in trouble, Northern Rock was one and B&B was the other. B&B have really silently flown under the credit crisis radar up to this point.