All Entries Tagged With: "Northern Rock"
HMSS: Mortgages through RBS, Lloyds and Northern Rock
The government has finally launched the Homeowners Mortgage Support Scheme (HMSS), which was first announced back in December 2008. This initiative is aimed at trying to reduce the number of home repossessions who have mortgages with RBS (LON:RBS), Lloyds (LON:LLOY), Northern Rock and other UK lenders.
Former Northern Rock chief executive received £109,000 pension top-up
It has been revealed that former chief executive of Northern Rock (PINK:NHRKF), Adam Applegarth received a boost of £109,000 to his pension fund after being sacked after the bank had collapsed. The top up formed part of Applegarth’s severance package, which has now taken his pension pot to £2.7 million.
Northern Rock reveals 80 per cent increase in mortgage arrears
Northern Rock (PINK:NHRKF) has revealed that mortgage arrears have increased by 80 per cent. The banks customers are now finding it hard to meet with mortgage payments, and have fallen behind for more than three months.
£1.4bn loss for Northern Rock not stopping executive's bonuses
Northern Rock has reported losses of £1.4 billon, but this still has not stopped plans of pay bonuses to senior executives. It seems that the bank is rewarding people for their failures; it seems strange that the UK government is allowing this to happen.
Northern Rock to increase mortgage lending by £14bn
Northern Rock has announced that they are to increase their mortgage lending over the next two years, this forms part of a plan from the Government in the hope of pulling the UK economy out of this deep recession that we find ourselves in.
Northern Rock workers to receive ten per cent bonus
Northern Rock workers are in line to receive a ten per cent performance-related bonus in their next pay packets. This reward is all part of an incentive scheme for all of the Bank’s 4,000 staff, which has been put in place to help achieve targets for repaying the £26 billion loan back that the UK [...]
Government may force Northern Rock to issue more mortgages
Northern Rock the lender that was fully Nationalized last year by the British Government may have to boost the number of mortgages it issues, as rival lenders withdraw their finance facilities, according to a report.
Northern Rock has been in the process of reducing its mortgage book until now to repay taxpayers money. But according to [...]
Northern Rock ignores Government Urges
Northern Rock the fully Nationalized Bank ignored the government and only past on 0.5 percent of last week’s 1 percent base interest rate cut by the Bank of England Monetary Policy Committee.
Existing Northern Rock customers who are on tracker mortgages that are pegged to the Bank of England rate will benefit from the full 1 [...]
RBS/NatWest, Abbey and Northern Rock leave SVR above 5 percent
Royal Bank of Scotland (RBS) subsidiary NatWest along with Abbey and Bradford & Bingley have all kept their Standard Variable Rates (SVR) above 5 percent, almost 3 times the Bank of England base interest rate.
Two of the banks with the highest SVR are Northern Rock and Alliance & Leicester, they are charging borrowers 5.84 percent [...]
Northern Rock Joins RBS NatWest on Repossession Pledge
Royal Bank of Scotland (RBS) NatWest pledged on Monday that it would increase the grace period for homeowners in trouble keeping up repayments on the mortgage loans to six months before they begin repossession proceedings.
Now, fully nationalized bank Northern Rock and Bradford & Bingley have also agreed to adopt the same policy, and will [...]
Northern Rock increase their interest rates
Northern Rock the bank that was fully nationalized this year by the UK government have gone against the governments wishes and raised its rates on its most competitive deals.
The state-owned bank raised its interest rates by 0.3 percent on its fixed rate deals, with its one-year fixed mortgage deal jumping to 4.19 percent from
Northern Rock and Woolwich offer fixed mortgage at 3.99%
Northern Rock who earlier this year become nationalized by the UK government, have introduced new fixed rate mortgage deals and raised the interest rate on their tracker mortgage products.
Northern Rock have increased the rates on all new Trackers by 0.5 percent, but have introduced new lower fixed rate deals, a two-year fixed deal with a [...]
Northern Rock update: SVR is now 5.84 percent
Northern Rock joined a list of other banks and reduced its Standard Variable mortgage rate by the full 1.5 percent from 7.34 percent to 5.84 percent; this change will be effective from the first of December for all customers on existing Tracker Mortgage rate products.
The move came after the Bank of England cut its Base [...]
Northern Rock: Repossession king
Northern Rock has been branded the most aggressive and ruthless bank in repossessing properties, with figures out showing that the nationalised bank is taking back 32 homes a week. In the three months to the end of September this year Northern Rock repossessed 4,201 home, this figure being far higher than most other mortgage companies [...]
Will RBS, Lloyds TSB and HBOS do more for borrowers than Northern Rock?
Back when the Government used tax payer’s money for Northern Rock, the public was very unsure about the outcome. Now we are having another £37 billion of our money invested into banking giants HBOS, Lloyds TSB and RBS. But will they do more for its borrowers than Northern Rock?
Northern Rock will not pass on the [...]