Mortgage arrears at HBOS up 33%

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Mortgage arrears at Britain's biggest lender have increased by 33% in six months.

The figures from HBOS, released yesterday within the lender’s half year results to June 30 2005, reveal its total mortgage arrears - including specialist mortgage lending under its subsidiaries such as BM Solutions - increased in value from £2.6bn to £3.5bn, representing an increase of 8,000 cases. HBOS says this represents only 1.39% of its total mortgage book, which stands at £201bn. And it claims despite the increase in arrears it has still maintained market share of 17%, growing its mortgage book by £7.5bn against the backdrop of a 13% decline in gross mortgage lending across the whol...

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