According to a recent report the supermarket retail giant Tesco could end up breaking into the mortgage market as early as 2010, which would mean that consumers will enjoy more choice and will be able to consider a mortgage from a household name that is trusted by many people. (more…)
Posts Tagged ‘northern rock’
Next Year Could See Supermarket Break Into Mortgages
Sunday, January 24th, 2010
Northern Rock tries to tempt more customers
Wednesday, November 11th, 2009Nationalised mortgage lender Northern Rock is said to be on an aggressive drive to try and increase its customer base by cutting the rates on some of its mortgage products a number of times within a short period of time. (more…)
Nationalised bank makes obscene profits from customers
Wednesday, June 10th, 2009Earlier this month the nationalised bank, Northern Rock, was accused of making ‘obscene’ profits from its mortgage customers. (more…)
90 percent mortgages make a comeback with the Rock
Tuesday, March 24th, 2009Previously 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. (more…)
Northern Rock uses taxpayer’s money to revive mortgage lending
Sunday, March 15th, 2009The nationalised bank, Northern Rock, is apparently using taxpayers’ money to revive its mortgage lending operations, according to recent reports. (more…)
The Rock sells repossessed homes at knock down prices
Saturday, January 10th, 2009Nationalised 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 rather than trying to get the best price for the former homeowner. (more…)
Mortgage provider was failed by FSA
Tuesday, April 8th, 2008Until 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 bank had asked the Bank of England for an emergency loan, and once this had happened share prices plummeted, billion of pounds were withdrawn by savers in a few days, and the bank’s reputation went down the drain. (more…)
End Of The Road For 125% Mortgages
Friday, February 29th, 2008The 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 they will be removing 125% mortgages – which comprise 95% mortgage and a 30% unsecured loan – from the shelves, with the effects of the credit crunch continuing to see credit conditions worsen. (more…)