UK MORTGAGE BANK Bradford & Bingley may have to set aside more money to cover liabilities related to the past mis-selling of endowment policies, the firm admitted to the City yesterday.
The Daily Telegraph reports B&B said the level of demand for buy-to-let mortgages remained at record levels as the business benefited from students, graduates and single people choosing to rent instead of buying their own home. Pressures from endowment mis-selling compensation claims forced B&B to take a charge of £38.7m in 2005 to cover potential liabilities for future claims, having already taken a £37.1m charge in 2004. BRITONS are saving ten times as much as they are borrowing on credit cards, overdrafts and loans - the highest level for six years, according to figures published in th...
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