Bradford and Bingley Sell_Off
Published / Last Updated on 02/12/2007
Real estate move
Bradford and Bingley has confirmed its housing association and commercial loans are being sold off to GE Real Estate in a deal totalling for £4.2bn.
The reason for the sell-off is to allow Bradford and Bingley to take advantage of “significant opportunities” in the residential mortgage and savings market from April. They believe these business areas produce higher margins and are the core areas they want to focus on.
Our view
The pressure on the housing market is forcing many institutions to review their holdings and future investment policy.
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