Earlier this month the nationalised bank, Northern Rock, was accused of making ‘obscene’ profits from its mortgage customers.

Previously troubled and now nationalised bank Northern Rock has announced in the past few weeks that it is making a multi-billion pound return to the mortgage market, and will be offering mortgage loans of 90 percent of the property value to eligible consumers.

The nationalised bank, Northern Rock, is apparently using taxpayers’ money to revive its mortgage lending operations, according to recent reports.

Nationalised lender Northern Rock, which was nationalised earlier this year after becoming one of the first major victims of the global credit crunch in the UK, has been accused of selling off repossessed home at knock down prices in a bid to try and get back as much money as possible as quickly as possible [...]

Until last year Northern Rock enjoyed a reputation as the nation’s fifth largest mortgage lender, and had enjoyed great success and an impressive reputation. However, in the summer of last year everything fell apart for the mortgage lender when it became a high profile victim of the global credit crunch. It became public knowledge that [...]

The recent announcement that Northern Rock is to remove its 125% ‘Together’ mortgage from the shelves may be the final nail in the coffin when it comes to sizeable mortgages for over and above the traditional 95% value of the property. Over the past week or two more and more lenders have been announcing that [...]