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Bradford & Bingley £8 Million Losses More bad news for B&B as they announced an £8m pre-tax loss.

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Bradford & Bingley £8 Million Losses

June 10, 2008 at 1:21 AM

More bad news for B&B as they announced an £8m pre-tax loss in the first quarter of 2008 (compared to a £108m profit in the same period last year) and has since suffered a 19% drop in its share price.

Most of their problems seem to stem from the fact that the number of its borrowers who have missed three monthly payments has jumped massively in the first quarter of this year.

This is much faster than the buy-to-let market average, which has nevertheless seen a chunky rise in three-month arrears.



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