Bye-bye Bradford & Bingley?...
#31
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Bradford and Bignley - Trouble Brewing?
£8m pre-tax loss in the first four months of 2008, compared with £108m profits the same time last year.
Buy-To-Let Mortgages in trouble.
BBC NEWS | Business | B&B sees loss in wake of downturn
Not another Nortern Rock hopefully!!
Buy-To-Let Mortgages in trouble.
BBC NEWS | Business | B&B sees loss in wake of downturn
Not another Nortern Rock hopefully!!
#32
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Look Pete get your facts straight before the usual cr*p doom and gloom posts you make
Yes B&B could have been going the same way as NR, however it looks like they are prepared to address the issue rather than hiding their heads in the sand NR stylee.
Therefore nothing to worry about. I'm sure TPG would not be investing £179m if it was all about to go **** up
Yes B&B could have been going the same way as NR, however it looks like they are prepared to address the issue rather than hiding their heads in the sand NR stylee.
In a bid to boost its finances the lender is selling a 23% stake to US private equity giant Texas Pacific Group (TPG) for £179m.
In addition, the firm is set to ask existing stakeholders to provide £258m of new capital, through a rights issue.
The share sale and the rights issue will help to boost the finances of the UK's major buy-to-let mortgage lender.
In addition, the firm is set to ask existing stakeholders to provide £258m of new capital, through a rights issue.
The share sale and the rights issue will help to boost the finances of the UK's major buy-to-let mortgage lender.
#33
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BBC NEWS | Business | B&B sees loss in wake of downturn
Things aren't looking too healthy, as expected!...
Things aren't looking too healthy, as expected!...
#35
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I closed my B&B, A&L and NR accounts earlier this year (or at least took out most of the money, leaving only enough to keep the accounts open incase any of them get bought out resulting in a windfall for customers... )
#36
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B&B's problems aren't completely linked to the global credit crunch - much of their problem is their large exposure to 'buy to let' mortgages and the fact that an increasing number of these type of lenders aren't able to cover their payments from rent any more.
I wonder if some of the numpties from C4's Property Ladder who ammassed huge property portfolios by remortgaging have been caught out - that would be shame, wouldn't it
I wonder if some of the numpties from C4's Property Ladder who ammassed huge property portfolios by remortgaging have been caught out - that would be shame, wouldn't it
#38
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#39
people getting in a mess simply used to go off and get a new mortgage.They can't do that as easily as they once could.
Funny,no one really considered that anyone would ever have a problem paying these mortgages,normal ones or buy to let.
There will be loads more jolly news to come out I reckon in the banking sector
Funny,no one really considered that anyone would ever have a problem paying these mortgages,normal ones or buy to let.
There will be loads more jolly news to come out I reckon in the banking sector
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I would broadly agree.
On the original point of this thread, there is a considerable difference between an organisation that has to go cap-in-hand to the government to continue operating (Northern Rock) and one that has suffered a dent in their profits and has found that its reserves are a little low (B&B). As an organisation, you could argue that they are taking the right steps now.
I've got a savings account with B&B and I've not seen or read anything over the last fews days that makes me believe it will turn into another Northern Rock fiasco.
On the original point of this thread, there is a considerable difference between an organisation that has to go cap-in-hand to the government to continue operating (Northern Rock) and one that has suffered a dent in their profits and has found that its reserves are a little low (B&B). As an organisation, you could argue that they are taking the right steps now.
I've got a savings account with B&B and I've not seen or read anything over the last fews days that makes me believe it will turn into another Northern Rock fiasco.
Last edited by Chris L; 02 June 2008 at 03:33 PM.
#42
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I hope you are all correct and B&B will be fine.
Marking posts unwanted just because you don't agree with the contents is childish, futile and amazing (in a sick way).
My post above was reporting the news
Marking posts unwanted just because you don't agree with the contents is childish, futile and amazing (in a sick way).
My post above was reporting the news
#43
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And scaremongering, hence the deserved negative feedback on your post
#44
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I see ..... so, your post here:-
https://www.scoobynet.com/non-scooby...ml#post7915467
Where you suggest that you would like to 'bone' the women on display is the model post? That should be Infracted for the image it has put into my head!!
-----------------------------------------------------------------
Returning now to sensible discussions:-
"Bradford & Bingley is particularly exposed to specialist mortgage lending, including buy to let (where it is the market leader), self-certification (alias ‘liar loans') and negative-equity and 100%+ loans.
The big worry for Bradford & Bingley (and other mortgage lenders and property investors) is that its buy-to-let business model has never been stress-tested in a housing downturn. B&B is the UK's largest lender in the buy-to-let sector, with a share of a fifth (20%) of this £120 billion market.
Buy to let really thrived during the twelve-year housing boom which began in the mid-Nineties. But will buy-to-let investors hold their nerve if house prices fall between 20% and 30%? Homeowners will do almost anything to keep the roof over their head, but will amateur landlords be tempted to walk away when times get tough?"
https://www.scoobynet.com/non-scooby...ml#post7915467
Where you suggest that you would like to 'bone' the women on display is the model post? That should be Infracted for the image it has put into my head!!
-----------------------------------------------------------------
Returning now to sensible discussions:-
"Bradford & Bingley is particularly exposed to specialist mortgage lending, including buy to let (where it is the market leader), self-certification (alias ‘liar loans') and negative-equity and 100%+ loans.
The big worry for Bradford & Bingley (and other mortgage lenders and property investors) is that its buy-to-let business model has never been stress-tested in a housing downturn. B&B is the UK's largest lender in the buy-to-let sector, with a share of a fifth (20%) of this £120 billion market.
Buy to let really thrived during the twelve-year housing boom which began in the mid-Nineties. But will buy-to-let investors hold their nerve if house prices fall between 20% and 30%? Homeowners will do almost anything to keep the roof over their head, but will amateur landlords be tempted to walk away when times get tough?"
Last edited by PetesDad; 03 June 2008 at 01:11 PM.
#45
I have no sympathy with buy to letters.
Most I know bought with minimum deposit (which I know is reasonanble size) and just assumed a tenant would come in,pay the rent and hence be paying the mortgage and the house would go up in value.
An awful lot of flaws with that plan now
Most I know bought with minimum deposit (which I know is reasonanble size) and just assumed a tenant would come in,pay the rent and hence be paying the mortgage and the house would go up in value.
An awful lot of flaws with that plan now
#46
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Quote:- "You'd have to be a very brave investor to buy shares in Bradford & Bingley at present. The long-awaited housing-market downturn has only just begun, and the UK economy has yet to go into recession. Nevertheless, B&B is already showing signs of financial strain, even though the worst is still yet to come"
Source:- Bradford & Bingley & Broken? - 02/06/2008
Source:- Bradford & Bingley & Broken? - 02/06/2008
#47
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I see ..... so, your post here:-
https://www.scoobynet.com/non-scooby...ml#post7915467
Where you suggest that you would like to 'bone' the women on display is the model post? That should be Infracted for the image it has put into my head!!
https://www.scoobynet.com/non-scooby...ml#post7915467
Where you suggest that you would like to 'bone' the women on display is the model post? That should be Infracted for the image it has put into my head!!
That post was a bit of fun in the general scheme of that thread, it was not serious. Whereas you are just posting the usual old Dail Mail / Express reader sh*te that caused all the old folk to be queuing round the block when NR first showed signs of wobbling
#48
Spices up the news though when banks are getting a kick in the goolies
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#50
I thought that with NR, and did..... didn't pay off B&B could be worth a gamble tho
I closed my B&B, A&L and NR accounts earlier this year (or at least took out most of the money, leaving only enough to keep the accounts open incase any of them get bought out resulting in a windfall for customers... )
I closed my B&B, A&L and NR accounts earlier this year (or at least took out most of the money, leaving only enough to keep the accounts open incase any of them get bought out resulting in a windfall for customers... )
#51
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#52
They seem to be the focus of the 'boom is over' story.Looks like all the mortgage frauds are emerging too
COLUMN-British boom unravels | News | Reuters
Think this will be more interesting than Northern Rock saga
COLUMN-British boom unravels | News | Reuters
Think this will be more interesting than Northern Rock saga
#53
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Careful about what you post on SN ....... the 'thumbs-down' kiddies will get to work on you - it's not what they want to hear see??
Now, post a ***** shaped carrot and you will be their darling
The future looks bleak for the economy and house prices in particular - which will assist everyone bar those wishing to move downwards
Now, post a ***** shaped carrot and you will be their darling
The future looks bleak for the economy and house prices in particular - which will assist everyone bar those wishing to move downwards
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