B&B to offload property services and Charcol

clock

Shares in Bradford & Bingley have soared this morning after the company announced it would sell off "non-core" businesses to focus on building up its own-branch network to boost sales of specialist and retail financial products.

The change comes after a strategic review, and will see the company’s property services businesses, Charcol, and associated mid- to high net worth IFA business sold off. No price tag has been put on the deal by the company, although it says the roughly 3,500 staff affected generated some £150m in turnover but no “material contribution to group profit” last year. The sale of non-core assets is expected to be completed by the end of this year. Additional savings of approximately £40m will be made in the retained businesses of specialised lending, such as buy-to-let, and sales of fina...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The five-minute complaint and the five-day investigation

The five-minute complaint and the five-day investigation

GSI Group CEO on complaints, AI and the latest set of FOS reforms

Mark Buck
clock 12 August 2026 • 5 min read
Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin
clock 12 August 2026 • 4 min read
New Talent Alliance launches financial advice careers guide

New Talent Alliance launches financial advice careers guide

Designed to attract new entrants into the profession

Sophia Panayi
clock 11 August 2026 • 2 min read