Friday, Aug 14, 2009
Industry insider says these are 'Extraordinary' provisions.
Times Online: B&B suffers £160m loss as mortgage fraud rises
Bradford & Bingley has had to raise its provision for fraud and professional negligence to £271 million.
Bradford & Bingley, the nationalised mortgage lender, has laid bare the dire state of its loan book and said that a rising wave of fraud dragged it to a £160 million loss for the first half of the year.
Posted by hotfoot @ 07:40 PM (336 views) Add Comment
2 Comments
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1. paul said...
Are self cert mortgages classed as fraud yet?
2. Smiling said...
nah Paul, not yet. If you want to know the latest, I'll let you in on a secret, they are all paying libor+2%, which is 2.77%, to save you looking it up.