UKAR, the Treasury-owned company set up to wind down the mortgage books of failed lenders Northern Rock and Bradford & Bingley, says the Government should get back £38.8 billion it is still owed.
The company has already repaid £10.4 billion since 2010, including £5.1 billion in the 15 months up to March 31st of this year.
Announcing the positive results, UKAR said: "A lot of good work has been achieved to date and we expect to repay the remaining £38.3 billion debt in full."
The company said rising housing prices coupled with low interest rates had been "good news for out customers".
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