Government restarts sale of Bradford and Bingley mortgage loans

House-Home-Property-Ladder-Mortgage-700x450.jpg

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 Tuesday, UK Asset Resolution – set up to manage failing lenders Bradford and Bingley and Northern Rock – announced that the sale would resume and sent out non disclosure agreements to potential buyers.

Coreco Group director Andrew Montlake says: “I think ultimately this is good news as it marks a return to business as usual after the Brexit referendum and will give the lender the opportunity to pay back the Government.”