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B&B's £50bn of loans, including £41bn of home mortgages, will not be sold and will be nationalised on a long-term basis. The mortgages may be given to the nationalised Northern Rock to manage.
"The Bradford and Bingley mortgage book is a lower quality book of mortgages, it is a worse asset than Northern Rock," said Charlie Parker, of Citywire.
"It has experienced double the arrears rates of other lenders."
Source: http://news.bbc.co.uk/2/hi/business/764
September 29 2008, 18:52:15 UTC 3 years ago
"it is a worse asset than Northern Rock"
It is and most evryone in the UK knows it.
September 29 2008, 20:00:09 UTC 3 years ago
I wonder how the next seven days will be.
September 30 2008, 18:41:15 UTC 3 years ago