Bradford and Bingley share price soar

Bradford and Bingley shares soared today after news broke that the troubled buy-to-let lender could be taken over by a larger bank.

After news at the weekend that Bradford and Bingley could be tied up with Spain’s Santander, who also own Alliance and Leicester, and Abbey, the banks share price went up nearly 20 percent although it did fall back slightly a little later.

Bradford and Bingley have been hit hard by losses on investment related issues related to the credit crunch as well as rising debts. The Financial Services Authority (FSA) are pushing to broker a deal for the lender.

However, it’s been reported that as of yet there have been no bids for the lender, and the uncertainty could encourage Bradford and Bingley customers to draw out their savings.

Read the full article in the independent