Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Bradford and Bingley in £300m cash call

Options
«1

Comments

  • brit1234
    brit1234 Posts: 5,385 Forumite
    Its only a matter of time before she goes down. :rotfl:
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • m00m00
    m00m00 Posts: 1,755 Forumite
    someone should have told them

    the credit crunch is over

    and things are back to normal with gently inflating house prices


    and then the bulls woke up
    It's a health benefit ...
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    brit1234 wrote: »
    Its only a matter of time before she goes down. :rotfl:
    But enough about the new gf...

    Bradford & Bingley's shareholders aren't really the investing types with spare cash sitting about looking for an investment home.

    It's a lot. £1 says they won't get it in.
  • Lotus-eater
    Lotus-eater Posts: 10,789 Forumite
    10,000 Posts Combo Breaker
    PasturesNew wrote: »
    But enough about the new gf...
    GSOH for a girl :rotfl:
    Freedom is not worth having if it does not include the freedom to make mistakes.
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Morning all - Just back from a week in sunny Holland!

    This time last year I'd have put money on B&B doing a Northern Crock as I thought they were in big trouble with their BTL book. Obviously I got the call wrong.However, the fact they were denying raising cash this way, even a couple of weeks ago, shows just how desperate they are!
  • MissMoneypenny
    MissMoneypenny Posts: 5,324 Forumite
    Just saying on the news that they suspect that B&B are raising this money as a war chest - ready for when the housing market goes down.
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • ad44downey
    ad44downey Posts: 2,246 Forumite
    Their shares are down 10% today alone. When the housing markets tanks shortly shares in B&B will take a even further pounding. I'd get out now while you still can
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    Has B&B been economical with the truth?? :j

    14 April 2008:
    Contrary to press speculation today, Bradford & Bingley announces that it is not intending to issue equity capital by way of a rights issue or otherwise. Bradford & Bingley has a strong capital base, above its regulatory requirements, and as a result of the Board’s conservative approach, has funded its business activities through 2008 and into 2009. In the current market environment, the Board will naturally continue to monitor closely the balance sheet strength of the business and its funding plans.

    14 May 2008:
    The Board of Bradford & Bingley plc announces a rights issue to raise approximately £300 million, net of expenses, in a 16 for 25 rights issue at an issue price of 82 pence per Bradford & Bingley share. This represents a 36% discount to the theoretical ex-rights price and a 48% discount to the closing price of Bradford & Bingley shares of 158.75 pence per share on 13 May 2008, the last trading day before this announcement.
    The proceeds of the rights issue will strengthen the Group’s capital position and will mitigate the impact of the previously announced reductions in the value of certain of the Group’s treasury investments.



    The question is - Would you really trust an organisation which tells blatant porkie pies with yet more of your hard-earned money??
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • Banderman
    Banderman Posts: 351 Forumite
    This may well be the first of many calls for board members to resign:


    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/14/bcnbrad414.xml
  • Kez100
    Kez100 Posts: 2,236 Forumite
    Any bank that offered 100% or self cert mortgages should have a complete new board!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture