New jobs could be created in a joint venture announced today by the Bradford & Bingley and American hi-tech mortgage group ALLTEL.

The new company, ALLTELL Mortgage Solutions Ltd, will get off the ground later this year and be based in Bingley.

It will involve around 600 people currently involved in the B&B's mortgage processing department who will deal with mortgages for B&B customers and new partners in the UK and eventually across Europe.

ALLTELL is based in Little Rock, Arkansas, and is the largest US provider of software and processing services to firms providing residential mortgages.

The new partners can now promote themselves as a top ten UK mortgage lender and the market leading US mortgage services company.

Christopher Rodrigues, the B&B's chief executive, stressed he could not predict how many new jobs would be created.

But he said: "The B&B currently processes loans for 400,000 customers and with an additional 60,000 customers we could employ an additional 100 people in the Aire Valley.

"I am delighted that we have established a partnership with ALLTELL as they are the market leader in mortgage technology services in the United States.

"This joint venture will enable us to apply world class systems and solutions to our mortgage administration and customer services. The partnership will improve returns in our mortgage business and is another key step in the development of our strategy."

Mr Rodrigues said the joint venture company was looking to carry out mortgage processing for other financial services organisations but would not say who talks were being held with.

The partnership comes just a few months before the B&B holds a special meeting at which members will be asked to give the final go-ahead for the building society to convert to a bank.

The joint venture is seen as one of the ways the B&B is enhancing the service it offers customers as it approaches the crucial vote.

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