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Virgin Money
- Northern Rock is being sold to Virgin Money for £747m, the government has announced. The bank was nationalised in 2008 following its near collapse at the onset of the global credit crunch. Northern Rock plc will be rebranded as Virgin Money, which has pledged no compulsory job cuts for three years.
www.bbc.com/news/business-15769886
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The Government is today announcing the sale of Northern Rock plc to Virgin Money. The deal maximises value for the taxpayer, who will receive £747 million in cash on closing, plus an expected...
Jan 17, 2023 · Lawyers are seeking compensation of at least £150mn on behalf of thousands of mortgage borrowers who believe they have been unfairly charged high standard variable rates, after the loans were ...
- Emma Dunkley
Jan 17, 2023 · The law firm representing Northern Rock mortgage prisoners has said many more people could join a claim for compensation against the firms that bought the collapsed bank’s mortgage portfolios.
The record-breaking £13 billion sale of former Northern Rock mortgages was completed today and the government received the final £520 million from Cerberus as part of the conclusion of this sale.
Feb 26, 2021 · The Government has sold the last remnants of its stake in the former Northern Rock as part of a £5bn deal. UK Asset Resolution - which took on parts of Northern Rock and other banks that sank...
Jul 19, 2016 · The sale, conducted by the UK Asset Resolution (UKAR) which is owned by HM Treasury, comprised of £11.9 billion of mortgages from the Granite debt financing vehicle within Northern Rock Asset Management (NRAM) and additional loans (£1.4 billion).
Apr 2, 2019 · The Government has announced it is selling off 66,000 mortgages and unsecured loans originally held by NRAM, formerly part of failed lender Northern Rock. UK Asset Resolution (UKAR) was created in 2010 to manage the loan books of failed lenders NRAM and Bradford & Bingley.
