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Tuesday 16th of December 2008

News Tag: legal action

December 10, 2008

Northern Rock hedges on latest base rate cut

by Gill Montia
Northern Rock hedges on latest base rate cut
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 ...



May 13, 2008

Loan facilities reducing say Northern Rock

by Kay Murchie
”Loan
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 ...



April 25, 2008

Shareholders of Northern Rock proceed with legal action

by Kay Murchie
”Shareholders
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 ...