Home > News > Mortgage and Remortgage

Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

Bradford & Bingley secures essential investment

02/06/2008

The UK`s largest buy-to-let mortgage lender has secured a financial investment from a major private equity house after it revealed a large slump in its profits.

Bradford & Bingley announced that underlying profits for the first four months of 2008 amounted to £56 million - compared with £108 million in 2007, triggering fears of a Northern Rock-style meltdown.

However, the UK`s eighth-largest bank has moved fast to quell such fears, allowing US investor Texas Pacific Group to take a 23 per cent in the company, providing £258 million of new capital.

The BBC reports that the Yorkshire-based bank has been left exposed by the credit crunch in recent months.

Meanwhile, the boss of Bradford & Bingley has resigned over the weekend "due to a serious cardiovascular condition".

Chief executive Stephen Crenshaw has left the company with immediate effect, with chairman Rod Kent stepping into the position in the short-term.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according