Bradford & Bingley Ponders ￡837m Loan Book Sell-off

摘要

Bradford & bingley has begun talks to sell the remainder of its commercial property loan book which is valued at around ￡837m.It is thought that it has approached parties to sell as much as ￡600m of the loan book but at a price of 90p-95p in the pound.This is thought to be around the same price paid by GE Real Estate, which bought a ￡2bn portfolio of loans from the nationalised bank in November 2007 that were priced at 95p-96 p in the pound. It is thought the price of the debt has deterred some prospective buyers.This week, Bradford & Bingley revealed that it predicted a loss of ￡507.7m for 2008 on property it had lent on, compared with ￡22.5m in 2007. This figure includes residential and commercial loans.