Treasury sells Bradford & Bingley mortgage division in £5.3bn deal
A £5.3bn sale of Bradford & Bingley (B&B) mortgages, which was acquired by the taxpayer during the financial crisis, has been authorised by the chancellor.
The sale will enable the full repayment of the Financial Services Compensation Scheme loan to B&B, which the Chancellor Philip Hammond said was a major milestone in the plan to recover taxpayers’ money.
Two portfolios of buy to let and residential owner-occupied mortgages will be sold to an investor group led by Barclays Bank. The proceeds from the sale will ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
