“Bradford and Bingley will lose up to £700m on mortgage defaults this year and expects an increase in the rate of loan losses, its chief executive Richard Pym said yesterday.”
“Pym said the number of borrowers more than three months behind on their mortgage had grown from the 4.6 per cent figure it announced in March and was now higher than five per cent.”
“Pym said the taxpayer could eventually see a profit on the government’s investments once all of its mortgage loans have been redeemed and expressed optimism that the number of borrowers falling behin…”
