News Tag: legal action
December 10, 2008
Northern Rock mortgage borrowers will not all receive the full benefit of last week's cut in the base rate.
The nationalised lender's tracker rate customers will see the full 1% reduction but for those on its standard variable rate (SVR) the reduction will be 0.5% taking the rate down to 5.34%, from 1st January.
Mortgage borrowers, who have remained loyal ...
Northern Rock hedges on latest base rate cut
by Gill Montia
May 13, 2008
Ron Sandler, who was appointed by the Government to revive Northern Rock, said solid progress has been made against the business plan.
The Bank of England loan facilities are reducing and the balance sheet is contracting as a result of planned mortgage redemptions, added Mr Sandler.
Mr Sandler's strategy is to reduce the mortgage book. He has set up a panel within the ...
Loan facilities reducing say Northern Rock
by Kay Murchie
April 25, 2008
The Government took Northern Rock into public ownership on February 22 and shareholders were believed not to be in favour of the nationalisation and have since been threatening legal action.
The UK Shareholder's Association (UKSA) (acting on behalf of the Northern Rock’s shareholders) believes that the UK Government confiscated the shares even though there was a good private sector solution ...
Shareholders of Northern Rock proceed with legal action
by Kay Murchie
