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Arrears soar as B&B writes down £507m of bad debt

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  • Arrears soar as B&B writes down £507m of bad debt

    Bradford & Bingley (B&B) has written down £507.7 million in mortgage debt for 2008.The buy-to-let lender said the provision against bad debt and further falls in house prices compares with a figure of £22.5 million put aside in 2007.B&B was taken into public ownership in September of last year in a move which also saw [...]

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