Northern Rock holds back on repossession for six months

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Northern Rock holds back on repossession for six months

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12-04-2008, 12:53 AM

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Northern Rock holds back on repossession for six months

Northern Rock is to follow the lead established earlier this week by RBS and not begin repossession proceedings until mortgage borrowers are six months or more in arrears with repayments.The nationalised lender has come in for criticism over its repossession policy.In October, debt charity Credit Action claimed that the bank’s level of repossessions was twice [...]

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