View more on these topics

Blackstone eyes £6bn Bradford & Bingley mortgage book


Private equity firm Blackstone is in talks to buy a £6bn book of residential and buy-to-let loans from Bradford & Bingley, GMAC-RFC and Kensington Mortgages.

The UK Government plans to auction off the mortgage book later this year, according to Sky News.

OneSavings Bank, Och-Ziff and TPG are also expected to bid for the B&B book.

The Treasury had originally earmarked £3bn of loans to be sold this year but has recently upped its estimate.

Most of the £6bn portfolio will be B&B loans, but a small tranche will come from Government-owned GMAC and Kensington loans.

Morgan Stanley will oversee the sale and has contacted possible bidders.

Three months ago Blackstone and Prudential bought £11.8bn of Bradford & Bingley loans.

The Government took over B&B’s mortgage book in a part-nationalisation of the bank after the credit crisis.



Pru buys £12bn Bradford & Bingley buy-to-let loan book

The Government has agreed to sell its Bradley & Bingley loan book for £11.8bn to Prudential and to funds managed by US private equity firm Blackstone. The portfolio of mortgages was acquired by taxpayers during the financial crisis. The Government says the £11.8bn price reflects the “strong credit quality of the portfolio and the outcome of […]


Government restarts sale of Bradford and Bingley mortgage loans

The Government has announced plans to restart the sale of £16bn worth of Bradford and Bingley mortgage loans, a move which has been hailed as good news for the economy. The sale was first announced earlier this year but was paused following the Brexit referendum as the Government waited for the economy to settle. On […]


Lenders tee-up Bradford & Bingley financing deal

Five British banks and a building society are reportedly offering around £17bn of financing in a bid to help the Government sell the remnants of Bradford & Bingley. The Government has been seeking to dispose of assets acquired during the financial crisis, including auctioning a £13bn package of Northern Rock loans last year. And now […]


News and expert analysis straight to your inbox

Sign up