The loans were made by failed lender Bradford & Bingley, which was nationalised in 2008

The UK government said it has raised £11.8 billion in a deal to sell a book of mortgages to the Prudential, and funds managed by Blackstone Group.

The loans have their origins in failed lender Bradford & Bingley, which was nationalised in September 2008, when the government took control of the mortgages.

UK raises £11.8 billion in loan sale to Blackstone and Prudential

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