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Bradford and Bingley report increase in home owners looking to avoid repossession

It has been reported that mortgage arrears are growing at one of the UK's biggest mortgage lenders, the Bradford & Bingley (B&B).

In a statement to investors ahead of its shareholders' AGM, the bank said some borrowers were finding it harder to repay their loans.
More than half of the bank's home loans have been made to buy-to-let landlords.

"Arrears levels have continued to rise in the first quarter, reflecting increasing payment strain," it added.
The bank had previously revealed that at the end of last December the number of people trying to avoid repossession for arrears of three months or more amounted to 1.85% of its mortgage loans.

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