Bradford & Bingley enjoys 5% profit rise

British mortgage specialist group Bradford & Bingley today said it was confident the UK housing market will survive the fifth interest rate rise in less than a year.

The group’s comments – following another hike in the Bank of England base rate to 4.75% yesterday – came as it posted a 5% rise in half-year profits to £140m (€210m) and said it had a business with “strong prospects”.