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Northern Rock bill is growing



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Published Date: 27 August 2008
TAXPAYERS could face an even bigger bill for Northern Rock as more and more customers default on mortgage payments.
Northern Rock borrowers falling more than 90 days behind on mortgage payments are reportedly rising much faster than the overall mortgage market.

Independent financial research has shown that Granite, the £40 billion offshore trust holding many of the Rock's mortgages, is performing badly. Between the first and second quarter of this year, customers have defaulted on £508 million of loans.





The full article contains 84 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 27 August 2008 11:36 AM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
 
1

A Friend of Fernando Poo,

27/08/2008 13:32:58
It's time someone had the guts to pull the plug on this shambles.
2

Evan Owen,

Snowdonia 28/08/2008 09:15:57
The plug should never have been put in place!

 

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