Bradford & Bingley mortgages takes on GM's loans
www.moneynews.co.uk > Mortgages > Bradford & Bingley mortgages takes on GM's loans
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Money News |
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Bradford & Bingley mortgages takes on GM's loans
Tue 25th Jan 2005
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The lender will purchase as much as £1.4 billion pounds worth of mortgages in order to widen its exposure to the residential property market.
The mortgages will be acquired by Bradford & Bingley's Mortgage Express division in four tranches, with a minimum price of £50 million per tranche.
Bradford & Bingley has already spent £3.1 billion pounds buying mortgages from General Motors since September 2002.
The purchase will increase Bradford & Bingley's managed assets, which stood at £35.8 billion in June last year, by as much as 3.9 per cent.
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Related News : Bradford and Bingley |
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