London (Ask4paydayloan): Bradford & Bingley, one of the most controversial figure in the industry of mortgage lenders, found themselves in dire straits, when they discovered that they have been duped for an amount of 18 million. This loss formed a significant part of the total loss of 74.6 million, which was suffered by the bank in the first half of the year.
The disputed mortgage lender, was recently in news for just completing a harrowing 400 million rights issue, which sank the organization into a pre-tax loss of 26.7 million after the end of half year in the month of June. What was more shocking is that in the past three months the level of mortgage indebtedness has risen to a very large extent within its customers group mainly due to the current economical issues
Rod Kent, chairman, Bradley & Binlgey, expressed his concern on the recent happenings. According to him, the developments in the past six months are not at all encouraging signs in any sense for the coming future.
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