Bradford & Bingley has completed the disposal of its property services businesses, Bradford & Bingley Estate Agents and SecureMove Property Services Ltd, to Countrywide for £44.3m in cash. B&B says the sale proceeds are expected to be used in the normal course of business.
Group chief executive Steven Crawshaw says: “The announcement of these disposals continues the refocus of the group towards our core businesses of specialist lending and branch based retail of financial services. Four out of five disposals are now complete and
excellent progress is being made with the cost cutting programmes that we announced in May.”