The country's eight largest mortgage lender, and one of Britain's biggest buy-to-let specialists, has become the latest company to be hit by the mounting crisis in the financial markets and the worsening state of the UK housing market.
City analysts said the bank was unlikely to survive in its current form and one called on it to be nationalised as Northern Rock was last year.
The shares fell 12 per cent to 18¾p, and has now fallen 90 per cent since the start of the year, with the once multi-billion pound bank worth just £271 million.
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