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FSA rumoured to be seeking buyer for B&B

Bradford & Bingley is thought to be in takeover talks as reports surface that the Financial Services Authority is gauging interest in the lender.

National newspapers including the Daily Telegraph and the Financial Times are carrying reports claiming that the FSA has approached Spanish lender Banco Santander to take over the buy-to-let lender.

Santander, the parent of Abbey, added to its UK market presence with the buy-up of Alliance & Leicester in July for £1.2bn.

The FSA is also thought to have made contact with National Australia Bank and Dutch banking group ING in an attemot to drum up interest in the take over.

A spokeswoman from B&B says: “We are not aware of anything in connection with any of these banks. Our funding foundations are solid, and we are well-capitalised.”

The FSA has refused to comment.


TMA launches into GI market

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IMLA attacks SLS extension

The Intermediary Mortgage Lenders Association has slammed the extension of the Special Liquidity Scheme as madness since it excludes a number of broker-facing lenders from accessing the plan.

John Charcol signs protection deal with L&G

John Charcol has partnered with Legal & General for a sole-tie distribution agreement to provide protection and mortgage payment protection insurance products.

Europe: Nursery slopes

After a flat year for European equities, in which the Artemis European Growth Fund outperformed, manager Philip Wolstencroft is (cautiously) optimistic about 2016.


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