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Boost for B&B as lending rises 43%

Bradford & Bingley’s gross mortgage lending rose by 43 per cent last year, more than twice the market average. The group saw its underlying profits rise by 8 per cent to 336.1m.

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Lending up but profits down at B&B

Bradford & Bingley has seen a huge jump in gross lending in 2006, more than twice the market average.However, the group also saw statutory pre-tax profits fall from £263.5m in 2005 to £246.7m last year, largely due to the £89.4m set aside for misselling complaints. Its underlying profit was up 8 per cent to £336.1m.Its […]

Concerns rise at leap in interest-only loans

The interest-only mortgage crisis is deepening, with a 33 per cent leap in the number of borrowers with an interest-only loan but no specified repayment vehicle.The big rise is well above the increase in the number taking out a mortgage last year and adds to growing fears that many borrowers are not being properly advised […]

Sales are set to slump as PPI probe looms

High-street lenders could see a big fall in payment protection insurance sales following the Office of Fair Trading’s decision to refer the market to the Competition Commission for further investigation.Paymentcare.co.uk says the probe will act as a warning shot across the bows of “greedy high-street lenders” and result in fewer sales of the product.Managing director […]

Rating agency alert over Rooftop securitised book

Fitch Ratings has piled more pressure on lender Rooftop by stating that it expects the firm’s second portfolio of securitised mortgages to continue drawing on its reserves.The agency predicts that Farringdon 2 is likely to continue to seek help from its reserve fund over coming months. The news comes four weeks after it plugged a […]

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