There are increasing worries that the Bradford & Bingley bank is about to go bust, and will end up nationalised in much the same way as Northern Rock was.
Although it hasn’t been confirmed yet, B&B’s plunging share price has left it looking very shaky. There are rumours that it could be saved by the Government and merged with Northern Rock, although they are probably more hopeful that another bank will come in for them and buy them up, much like Lloyds TSB are doing for HBOS.
I suspect that things will evolve over this weekend, so once anything is confirmed we’ll have the news here on Money Watch.
For Bradford & Bingley customers, I wouldn’t be too worried, as I don’t think the Government could afford to let a major UK bank go bust, so your savings are pretty safe. Obviously, there’s no 100% guarantee