Welcome to the new Independent website. We hope you enjoy it and we value your feedback. Please contact us here.


Bradford & Bingley boosts share

BRADFORD & BINGLEY, Britain's second-largest building society, increased its share of the UK mortgage market in the first half of the year, the lender said yesterday.

Christopher Rodrigues, the chief executive, said the company had increased its mortgage book by pounds 430m to pounds 17bn in the first half. "We have a natural market share of around 4 per cent, but in the first six months we have punched above our weight and we are definitely increasing market share," he said.

Bradford & Bingley reported a 41 per cent rise in pre-tax profits to pounds 67.3m. Mr Rodrigues said the results reflected the company's commitment to mutuality.