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Guest Winnie

Observer - Business Section Fp

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Guest Winnie

"NR's plight has also raised concern about the prospect of heavy losses among Bradford and Bingley's BTL loans which account for more than half its mortgage book. James Hamilton, banking analyst at Numis thinks that...buy to let will be the first to suffer rising defaults. B&B also has the second highest ratio of loans to deposits after NR..."

BTLers will surely be scarpering en masse this week.....even their VI friends are predicting stagnation.... and as they MEW to fund new purchases, and MEW will surely be the first tap the banks turn off......it is all over red rover.

Watch the run on B&B on Monday....I took my £100k from Alliance and Leicester out on Friday....will take 4 working days - but at least got it logged in time for the next set of runs. They can't bail them all out - WHAT WILL the SKUNK and his master DO???

Observer is the most bearish of the Sundays today. Three or four fantastic columns. Telegraph is caught up a little in its landowning class dilemma, and the Sunday Times is led by David Smith, stooge to Murdoch who does not want to see his (and his buddies') investments swoon too much. In fact the ST today is woeful, inconsistent and blatant propaganda.

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