VIRGIN Money has agreed to buy £465m of mortgages from UK Asset Resolution, the state-owned group which operates Bradford & Bingley's mortgage book.

Bradford & Bingley was nationalised in 2008 with the branches sold but the mortgage book retained and managed by UK Asset Resolution which also operates part of the old Northern Rock business.

The sale by UKAR is made up of Northern Rock Asset Management mortgages, secured on residential property assets in the UK. 

The proceeds of the sale will......for the full story register now for free or login below...