Mortgage bank Bradford & Bingley is expected to announce further details of a £12bn mortgage deal tomorrow as it announces its results for 2006, according to the Scotsman .
B&B has agreed to buy £4bn in mortgage portfolios each year from GMAC RFC for each of the next three years. In its final trading statement for 2006, B&B reported that despite a fall bad debt charges in its second trading half, profits were expected to meet the City's consensus forecasts. This would lead to pre-tax profits coming in at about £333m, says the paper. ONE IN three households across Britain is now dependent on the state for at least half its income, says the Daily Telegraph. Official government figures showed more than seven million households are getting most of their...
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