Thursday, April 2, 2009

Oops – no more money to lend

B&B struggles with loan book

B&B has tried to encourage customers to leave by waiving early redemption charges for those who redeem all or part of their mortgage by June this year. It has closed its doors to new mortgage applications.

Posted by mark @ 08:33 PM (634 views)
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One thought on “Oops – no more money to lend

  • I would jump at the chance if I was with B&B – but only if I was able to get a long term low IR fix elsewhere. And as we all know – these are only available to people with low LTVs. So I would expect the “safe” customers to leave B&B, and the ones who are struggling or who have bought recently or borrowed too much to stay.

    In other words, I would not be tempted to hold B&B shares.

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