Tuesday, June 3, 2008
HBOS admits a quarter of its mortgage book is sub-prime
'HBOS said later that 26.8 per cent of its mortgage book was attributable to "specialist balances", mainly buy-to-let and self-certification mortgages.' Presumably they securitied the good loans and are left with the cr*ap ... why isn't this all over BBC News? Without doubt this is the next rights issue to fail.