Barratt confirms £170m loan book sale talks

Barratt Developments has today confirmed that it is in talks to sell some of its £170m portfolio of shared-equity loans.

The listed housebuilder, which is advised by Credit Suisse, said that it was “in the early stages of looking at options to monetise part of its interest in this portfolio”.

The deal would be the among the first times that a UK housebuilder has sold its loan book. The company said: “There is no certainty that any transaction will be concluded.”

Many of the housebuilders are believed to have considered sales before but have been put off by the discount they would have to take on any sale.

Have you booked your delegate place for RESI 2011 yet? Taking place at the Celtic Manor, Newport, 15-16 September 2011, RESI 2011 is the event to attend for the residential market. Can you afford not to be there? Visit www.resievent.com for more information and to book your place. Chance to win an Ipad2 – complete our online poll