Rat and Mouse
Mon
02
Jun
Bradford & Bingley battered by buy-to-let

The weekend's headlines:

  • existing investors asked to stump up further £258m
  • shares suspended, then slump 20% after trading restored
  • chief executive steps down with heart problems
  • Texas Pacific Group (private equity house) to take 23% stake and inject further £179m
  • bank suffers significant problems from arrears-heavy buy-to-let sector

So the good news... bank to receive £440m. The bad news... bank needs £440m. In other news... first significant sign of buy-to-let market woe. We'll be back later with further developments and with commentary from across the media.

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