Saturday, May 17, 2008
B&B - Analysts advise shareholders to sell
The ft: Analysts say sell B&B
B&B mortgage bank - 55% buy-to-let, 22% sefl certified with no proof of income. Oh dear, not good for B&B shareholders.
Posted by baudot @ 09:06 AM (383 views) Add Comment
4 Comments
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1. paul said...
* 59% buy-to-let.
2. uncle tom said...
It gets worse - the last press statement from B& B mentioned 50% BTL, this guy reckons it's 59% and if the 22% self-certs (liar loans) are in addition to that, it suggests that just 19% of their mortgage book is sound.
It's not far-fetched to contemplate the possibility of B & B seeing a 50% failure rate on their loans - totally unsurvivable.
FYI: B & B are roughly half the size of Northern Rock
3. it_is_going_with_a_bang said...
Hardly suprising then that they talk the market up at any and every opportunity.
4. plato said...
The Analysts have got it right. Especially after B&B recent statements that they were not planning to raise extra cash. Shareholders seem to have been given the run around.