Friday, August 14, 2009
Sorted ?
Bradford & Bingley Arrears Increase, May Have Peaked
"B & B, the biggest lender to U.K. landlords before it was nationalized, said the proportion of mortgages in arrears rose by almost a third in the first half and may have peaked. Mortgages at least three months overdue rose to 5.88 percent at June 30, from 4.6 percent at the end of 2008, the Bingley, England-based lender said today in a statement. Arrears dropped to 5.82 percent at the end of July". "Bradford & Bingley was nationalized in September after the bank struggled to find funding and customers lined up outside branches to withdraw deposits".
Posted by alan @ 08:04 PM (828 views)
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will says:
So everything is OK again in Arcacia Avenue. I think not. B&B just don’t wish to reposses homes as it is their business which takes the loss, so instead they tell defaulters that they can stay in their homes and add the debt on to the top of their outsatnding mortgages. Problem solved. But the mortgage holder becomes trapped in increasing negative equity and cannot move home. Continuing misery for homeowner but not B&B (and all of us).