Bradford and Bingley Default

ilovelorrainekelly

chucky wrote: »

i wouldn't have thought so - there is not a huge amount of trades out there with B&B as the underlying.

do you know the total traded...

ilovelorrainekelly

mbga9pgf wrote: »

Going off how many lenders are turning down B+B customers for remortgage, what makes you think they will want to buy their (dodgy) loan book?

Assuming the customers who remain in 12 months will be those who cant remortgage who will want to buy the least attractive loans of a distressed bank.

Generali

ilovelorrainekelly wrote: »

Assuming the customers who remain in 12 months will be those who cant remortgage who will want to buy the least attractive loans of a distressed bank.

Who the hell wants to buy mortgages right now anyway? Isn't that a big part of the banks' problems?

ilovelorrainekelly

ilovelorrainekelly wrote: »

Assuming the customers who remain in 12 months will be those who cant remortgage who will want to buy the least attractive loans of a distressed bank.

Apologies for swamping this page this morning and for answering my own questions.

Prior to offering the book to the market at a substantial discount of say 60%, it is possible they will follow the advantage model of offering the customers a discount to redeem. They will recover a greater percentage from the borrowers than from the marketplace.

Generali

ilovelorrainekelly wrote: »

Apologies for swamping this page this morning and for answering my own questions.

Prior to offering the book to the market at a substantial discount of say 60%, it is possible they will follow the advantage model of offering the customers a discount to redeem. They will recover a greater percentage from the borrowers than from the marketplace.

True although possibly tough politically.

mystic_trev

Generali wrote: »

True although possibly tough politically.

Hi Generali

Trust you and yours are all having a great time out there. Good to hear about your Job(s)

Just thought i'd better warn you to avoid those 'dead' people shopping down at Grace Brothers!

http://news.bbc.co.uk/1/hi/world/asia-pacific/8071299.stm

chucky

ilovelorrainekelly wrote: »

do you know the total traded...

yes... well i know at least 90% that's traded and B&B as an underlying aren't in the current top 1000 positions open

http://www.dtcc.com/products/derivserv/data_table_i.php?id=table6

phil1873football

Erm...I hope I dont take this in a total different direction. But my mortgage is with Bradfor and Bingley through Mortgage Express...do these developments have any repurcussions for me. I have never missed a payment in the 2yrs I have been with them and I am on a 5yr fixed, but my property is in negative equity due to the fall in house prices. Its not a huge amount, I owe around £70k but my house is valued at around £65-68k at this current time

Can anyone shed some light on any problems this may create for me either now or in 3yrs time when my current fixed rate ends???

Any help would be great as reading all these posts has made a little concerned.

Cheers

Radiantsoul

Generali wrote: »

Who the hell wants to buy mortgages right now anyway? Isn't that a big part of the banks' problems?

There is a price point at which they will be quite attractive, probably a bit below par.

ilovelorrainekelly

phil1873football wrote: »

Erm...I hope I dont take this in a total different direction. But my mortgage is with Bradfor and Bingley through Mortgage Express...do these developments have any repurcussions for me. I have never missed a payment in the 2yrs I have been with them and I am on a 5yr fixed, but my property is in negative equity due to the fall in house prices. Its not a huge amount, I owe around £70k but my house is valued at around £65-68k at this current time

Can anyone shed some light on any problems this may create for me either now or in 3yrs time when my current fixed rate ends???

Any help would be great as reading all these posts has made a little concerned.

Cheers

Everyone is just trying to second guess what will happen next to BB as their intentions are well hidden.Current developements wont have any relevance for your mortgage per se. You will have to move away from BB eventually but obviously only when you can. You will go to the SVR or PVR of BB and could stay there indefinitely as per terms of your agreement.