Thrifty Loans

Northern Rock Bidders Line Up

The sale of Northern Rock is still up for grabs. It looked last week as though Richard Branson’s Virgin Money were on the brink of a deal, but it’s not done yet. Indeed it began to look at the start of this week as though there may be a competitive auction for the ailing bank. As doubts [...]

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Northern Rock Mortgages Take A Dive

It should probably come as no surprise that mortgage lending by Northern Rock has taken a nosedive since it hit the headlines for having to go cap in hand to the Bank of England for extra funds in September. The bank has seen an 80% fall in mortgage lending as it has deliberately tried to [...]

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Will the bank cut the base rate?

Stock markets around the world greeted the US Federal Reserve’s decision to cut its interest rates by 0.5% with glee this week. Share prices soared, and the queues to withdraw savings from Northern Rock disappeared after the UK government declared that it would ensure all savings accounts. After the half-percent cut in the US, there is [...]

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Northern Rock raises rates on sub-prime lending

Troubled high street lender Northern Rock has put up rates on its fixed-rate loans, and consigned to the bin its trackers for borrowers with poor credit history. This move signifies a scaling down of sub-prime mortgage business for the company. Northern Rock has been the work performing bank stock in the UK this year, having been [...]

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