Monday, April 28, 2008
HBOS, the UK’s largest mortgage lender, has said it expects a “modest single digit” decline in UK house prices this year.
HBOS, the UK’s largest mortgage lender, is set to launch a rights issue to raise up to £4bn as it braces itself for an ongoing downturn in the UK economy. The owner of Halifax and Bank of Scotland will make a final decision about whether to push the button at a board meeting today, ahead of its annual shareholder meeting tomorrow in Glasgow. If it goes ahead, it is likely to ask its brokers Morgan Stanley and Dresdner Kleinwort to organise the rights issue.