The UK government's mishandling of the liquidity problem at Northern Rock exacerbated matters. The episode demonstrates the failure of the tripartite regime and bodes ill for the future of the bank under nationalisation.
Northern Rock is the 5th largest mortgage lender in the United Kingdom. Northern Rock is well respected with a reputation of being efficient and affordable. A Northern Rock loan is a loan backed by a strong company that is always looking out for their customers and strives to get them...
The UK government took the unexpected and controversial move to nationalise Northern Rock. What does this mean for shareholders, depositors and mortgage customers ?
The UK Government has been severely criticised over the Northern Rock banking disaster. A consultative document has been issued which seeks to prevent any run on a UK bank in the future.
Sir Richard Branson of the Virgin Group is the UK government's preferred bidder for Northern Rock. But he is facing hostility from shareholders.
State-owned Northern Rock is set to offer great deals for savers in the coming months, however it is the bank’s existing 800,000 mortgage customers who are the bone of contention.
In September of this year the nation's fifth largest mortgage lender became the victim of the first run on a British bank in almost 150 years. Since the credit crunch took hold in the UK in August Northern Rock has become known as one of the highest profile victims of the financial turmoil that was created by the global credit crunch, which was sparked in the sub-prime mortgage sectors of the United States.
Northern Rock chairman Ron Sandler said in the report that the credit quality of their loans remained "satisfactory" in spite of the current harsh economic conditions. Indeed, the report said that the bank's loan facilities stood at £24.1 billion at the
Many analysts and debt counsellors are pointing out that the lending policy of Northern Rock is causing difficulties for its customers
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Translator
Northern Rock And Bear Stearns - A Comparison