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".
More top news
All cuts have consequences, warns Joel Hills, as he examines which assets may be up for sale if George Osborne decides 'everything must go'.
Tests revealed she was suffering from secretory carcinoma - which affects just "one in a million people" diagnosed with the breast cancer.
A terminally ill cancer patient was led down the 'aisle' in bed at hospital after being told she was unlikely to survive weekend,