B & B shares - would you buy now?

bristolleedsfan

Stavros wrote: »

So what does that long winded post mean in pigeon English

What the long winded post doesnt say is that it cost B+B ( i believe) 13 Million pounds to get out of the GMAC-RFC deal and that many analyists have said that what B+B have bought themselves out of is likely to be better quality than what B+B have already bought being as the housing market has already slumped.

sabretoothtigger

Many american analysts? They seem to think our situation will in time reflect theirs when the price should never get so bad. The trend of higher arrears from bought in debt would continue imo

Stavros_3

sabretoothtigger wrote: »

Many american analysts? They seem to think our situation will in time reflect theirs when the price should never get so bad. The trend of higher arrears from bought in debt would continue imo

Sorry, but with the greatest of respect you seem to just post stuff that very few people on here understand, no offence intended

Plasticman

Stavros wrote: »

Sorry, but with the greatest of respect you seem to just post stuff that very few people on here understand, no offence intended

but we all enjoy posting about things that we don't understand so it's not a problem

I was just impressed that a sabre tooth tiger could work a PC

sabretoothtigger

tigger not tiger, makes all the difference.

All my comment was about was this bit ' three-months arrears rate on the bought-in loans running at 5.11% in August versus a rate of 1.7% for loans approved directly by Bradford & Bingley.'

I think that trend will continue, ie. percentage of people not paying their mortgage.
In usa you can walk away from a mortgage and your car, other assets, etc are ok but debt is more serious over here hence my reply disagreeing with bristolleedsfan

SouthCoast

<H2>Bradford & Bingley can no longer continue as an independent bank and will have to be nationalised in some form in the coming days, City sources have warned.

</H2>
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3088687/Financial-crisis-Bradford-and-Bingley-to-become-latest-victim.html

TRUSt_NO_1_2

sabretoothtigger wrote: »

......

In usa you can walk away from a mortgage and your car, other assets, etc are ok but debt is more serious over here hence my reply disagreeing with bristolleedsfan

When people have no money...it won't make a jot of difference...and that is where the UK is going...pretty quickly from what I observe.

The court system will be in chaos..and new laws will have to be introduced.

It's going to get very 'interesting' !

bristolleedsfan

sabretoothtigger wrote: »

hence my reply disagreeing with bristolleedsfan

http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=315285&Page=1


"GMAC will still be paid around £13 million in fees it would have been entitled to under the old agreement, according to an analyst’s reports."


"Credit Suisse analysts said the renegotiated terms seemed a much better deal for GMAC than B&B as the US group gets their entire fee for originating fewer assets, but said at least B&B has capped its exposure.
But they agreed the news does nothing to fundamentally change the Bradford & Bingley story.
They said buying £1 billion fewer mortgages pales into insignificance against the £8.2 billion of GMAC mortgages the group already has and the lender's total book of £41billion loans.
They also said there was a chance the newly originated mortgages might have performed better than the older stuff (by virtue of the fact house prices are already down 12%). "

Andrew64

It seems the government is considering nationalising Bradford & Bingley like was done with Northern Rock. If it happens, the depositors become very secure - but the shareholders lose everything.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4835129.ece

Just a thought. Due to this story the government may now have to act as the shareholders will bail out on Monday and B&B shares could be left worthless. Seems the government may merge b&B with NR!

http://www.dailymail.co.uk/news/article-1063043/Is-Bradford-amp-Bingley-brink-bail-Ministers-plan-superbank-merged-Northern-Rock.html

SouthCoast

R.I.P.

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