As we suggested last week, it looks like time might be up for buy-to-let mortgage specialist Bradford & Bingley. There is widespread speculation in today’s media that the government is preparing to nationalise B&B soon after failed attempts to find a private sector buyer for the business…
The crisis that led to the nationalisation of Northern Rock was a shock to us all, whereas the steady build-up towards the nationalisation Bradford & Bingley seems almost sedate by comparison. So far there have been no queues of depositors looking to withdraw their cash from the building society, though I suppose that might change if media commentators start talking about the “collapse” of B&B. Events on Monday morning will prove interesting - this story might quickly develop some momentum.
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