News - Midlands
Barratt investigates loan sales
Barratt Developments is investigating the possibility of selling its shared equity loans, it confirmed this morning (8 August 2011).
The Coalville housebuilder told the Stock Exchange it was in the "early stages of looking at options to monetise part of its interest in this portfolio".
However, it said there is "no certainty that any transaction will be concluded".
Barratt was responding to "press speculation" after the FT reported Credit Suisse was helping it to find buyers for part of its £170m shared equity mortgage book.
This would be the first time a housebuilder has traded shared equity and the move could "light the blue touchpaper" for a disposal of mortgage products across the UK, the paper said.