The FSA are looking for buyers for Bradford & Bingley in case they run into trouble and need a buyer. A potential buyer has not yet been forthcoming.

And B&B shares have gone up !!

Only if a buyer is found soon. The longer it takes the more likely the shares will nosedive.

Will Bradford & Bingley finish up as part of Northern Rock ?

Afterall who wants to buy a bank in these conditions that has built its business in the Buy To Let market, potentially the most risky area, as it won't be long before Buy To Let businesses start to go belly up.

Can anyone see any queques forming yet?
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forget buy to let, it all went wrong there when they replaced the two portly gentlemen in the bowler hats with the young glamorous woman and the more trendy contemporary bowler.....whichever way you looked at it, it just wasnt believable for a financial institution.
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forget buy to let, it all went wrong there when they replaced the two portly gentlemen in the bowler hats with the young glamorous woman and the more trendy contemporary bowler.....whichever way you looked at it, it just wasnt believable for a financial institution.

i must admit i did like the two gentlemen in their bowlers :rolleyes:
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Can anyone see any queques forming yet?

For the repossessed BTL properties you mean? There could be some bargains, but the trick will be to judge when the bottom has really been reached.
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My forecast is the property slump will hit the bottom about March 2009 and then tend to flatten out for the next 12 - 18 months.

Unless the government adopts my proposal to re-introduce mortgage tax relief which could slow down the property recession and reduce the flattening out period
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Most people can still comfortably afford their mortgages and I don't think for them the introduction of mortgage tax relief will make any real difference.

I would have thought the temporary suspension of stamp duty would have a far more pronounced effect in kick starting the market.
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Most people can still comfortably afford their mortgages and I don't think for them the introduction of mortgage tax relief will make any real difference.

So how do you explain a 48% increase in the number of repossessions
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I'm not the only one on a late night then.:D

The 48% increase is on a very small part of the overall market. Whilst most people can still afford their mortgages, there will always be some who probably never could and are now struggling due to the never ending remortgage route being firmly shut.

The same article that reports the 48% increase also states:-

"While both have increased from their low base as expected, the overwhelming majority of the UK's borrowers continue to pay their mortgages in full every month, and will continue to do so," he said

"These numbers (18,000 repossessions) remain extremely small when seen in the context of the 11.74 million mortgages in the UK," he added.
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Quality answer for which you are to be respected.

However mortgage payments are a problem and giving tax relief would reduce the pressure on wage inflation and also for those who could pay their mortage put money into their pockets which would help liminate the recession by helping to stiimulate consumer demand.
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Thank you Terry. You're a gentleman.

Having worked very hard towards repaying my mortgage (I'm in my mid forties) and constantly resisted the temptation to realise capital from my house, I have little time for the buy it now pay ever later mentality. Basically I have learned never to spend more than I can afford.

How did I learn? I had my then house repossessed in the late eighties and in hindsight it was probably the best thing that ever happened to me.
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It is looking like my parents may have to downsize due to the fact they are finding it hard to pay the mortgage. My dads business is suffering, mine has stayed static and I feel bad because my parents wanted to sell last year when the house was worth around 260k and buy a 2 bed flat, I managed to stop them as I believed flats would come down in value I was right, but I never realised house values would fall so much, I reckon the max they would get now is 210k but then it is still a three bed terrace in Manchester.

Point of my reply? Well I know a lot of people are finding it hard to pay their mortgage atm and banks are also recalling loans etc
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Even if reintroducing tax relief on mortgage payments were a good idea it isn't going to happen. Gordon Brown spent our money like a drunken sailor during the 10 fat years of global growth, pushed gvt borrowing far too high during a revenue boom while mouthing platitudes about prudence, and now that revenues are falling he has left nothing in the kitty.
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So lets get this straight,Labour buy all the banks and a tad later the tories get in and flog em all off.

Then Labour get back in and buy em back.

Now as a business plan can you spot any flaws.?

Earl
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