Top faller in the Banking sector today with a 25% fall are they about to go bust as the housing market stalls .. are they another Northern Rock failure about to blow.

Doubt that , reading on Motley ING possibly make offer before end of week, bought earlier at 26.5 - so not too worried yet ! Looks like all the U.K banks are going to be owned by foreigners shortly. U.S get there fingers out and another take over and we'll see the crazy deals of last week - here's hoping:-)

After hours RNS could boost the sp in the morning:





RNS Number : 1345E
Bradford & Bingley PLC
23 September 2008





Bradford & Bingley plc



Bradford & Bingley and GMAC-RFC announce new terms for mortgage agreement

Bradford & Bingley (the Company) and GMAC-RFC confirm today that they have successfully
renegotiated the terms of their mortgage forward
sale agreement.

Under the original terms of the agreement, signed in December 2006, the Company agreed to
purchase a minimum of 350m of UK mortgage
assets per quarter, with 1.75bn remaining to be purchased before the end of 2009.

Both businesses have agreed to revise the terms of this agreement to their mutual benefit
whereby 500m of loans will be acquired in Q4
2008 and between 225m and 250m in Q1 2009 after which the agreement will cease. GMAC-RFC
will receive in lieu, the equivalent of the
premium that would have been paid should the agreement have run the full term.


ENDS

Still far too risky to buy..

Agree with Mitzy. Tempting, but I think further to fall. 15p could be worth a punt.

why would it be worth a punt at 15p but not now ? Personally got in at 24p yesterday and would be seriously concerned of loosing my money if it fell to 15p as far more likely to hit the wall than when hovering around its current base. Can't get my head around some of the numbers people come out with to justify their actions

No one seems interested at take over at 25p my thinking is at 15p a takeover would be cheap price to snatch it. moe likley BB will fail as NRK IMHO

maybe not but i don't see any immediate fear that they will go bust either. Im sure there will be another relief rally when the US gets their finger out and they approve the bail out plan. I will sell into that rally.It was impossible to jump on to it last time so taking the chance of positioning myself early. If it falls to 15p ill double my already sizeable holding as funding model somewhat different to NR

The thing that worries me about taking a punt and hoping a for buyout is that they have lots of iffy loans self certified etc

Fitch rating has been cut...very dodgy even if it goes to 15p.

Its a sorry state that when I started this thread BB was trading at 250p and now look at them..23p.

another dopey lot from yorkshire......bradford, halifax

At least we have a bank.

seem to remember you were careless enough to lose yours last week ...


;-)

it was halifax that brought it down u dimwit!!!! bank of scotland was fine until halifax guys tok over.....none have knowledge oif banking. wake up and have some knowledge on matter before making flippant comments.
oh.....and what u going to do about pensions....and currency

ah, i forgot u r a dealer.....not really interested in structure of a country......probably one of the many apethetic people in this woeful country these days......no wonder more and more brits r leaving

and it was nothing to do with being careless.....it was idiots in city making up false rumours (as usual) about hbos lending capability. hbos is highly profitable company....more than 5 billion profit in last statement.

your comments make u out to be a moron, dealer

thats like saying......at least scotland has scottish people in its football team.......whereas england has africans or wherever they come from

Just say NO..

10% down again this morning BB could soon be HMG.BB

Sub 20p tomorow maybe.

Could be at that today

B&B has been hit by rocketing numbers of customers defaulting on their mortgages or falling behind on interest payments. It specialises in lending to buy-to-let landlords and to higher-risk "self-certified" borrowers, people who have not had to provide proof on income to qualify for loans.

Richard Pym, the new chief executive parachuted in last month to try to save the bank, said, "The changes we have announced today focus the business as a strong savings bank, reduce the size of our lending activities and increase our capacity in arrears collection."

B&B shares slumped 8 per cent to 23p, far below the 55p a share price at which the bank raised emergency capital in the summer. B&B said it remained strongly capitalised.

The bank also warned staff that it planned to cut the size of the head office workforce in Yorkshire at a later date. The Borehamwood processing centre will close in the first quarter of 2009.

The Financial Services Authority has become increasingly concerned about B&B and its heavy dependence on the paralysed wholesale markets for much of its funding.