Friday, August 14, 2009
"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".