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Ministers eye £6bn Bradford & Bingley sale

Ministers eye £6bn Bradford & Bingley sale

Business
The Government is targeting a bigger-than-expected sale of mortgage loans taken on by taxpayers during the financial crisis amid continued doubt about the proceeds it will receive from its vast stake in Royal Bank of Scotland (RBS).Sky News has learnt that ministers are preparing to sell a £6bn portfolio of buy-to-let and residential mortgages, the vast majority of which were issued by Bradford & Bingley (B&B).Sources said that a smaller chunk of the loan-book being put up for sale relates to assets acquired from GMAC-RFC and Kensington Mortgages before the banking crisis emerged in the UK in 2007, when Northern Rock found itself unable to fund itself in wholesale financing markets.The Treasury had originally identified about £3bn of mortgages to be sold later this year, with Morga...