Friday, Nov 16, 2007
Any Takers for the Rock
BBC: D-day for Northern Rock bidders
Potential buyers for Northern Rock have until Friday to submit their offers.
I can just imagine Applegarth submitting his business model to Dragons Den. I think he would hear "I'm out" from all 5 dragons in record time.
On to more serious matters I'll organise a cooperative if anyone wants to join me. After careful consideration an much research I will invest thirty quid. Anyone fancy a punt? I don't think NR would get much more than £100 on Ebay
Posted by denzil @ 09:41 AM (431 views) Add Comment
5 Comments
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1. The Haunted said...
Count me in, although £30 is a little on the generous side.
2. paul said...
Sure, if you pay all their debts first, I'll take Northern Crock for 100 quid.
Oh wait ...
3. daopig said...
Looking at a few Facts I resort to my crappy school-level maths to have a look. Please help. I am numerically dyslexic.
And interested in knowing how many new mortgages would make £20bn
A billion is 9 zeros, ten billion is 10 zeros. A "normal" house costs under 200k or 5 zeros.
So in terms of ball-park number of mortgages this would be roughly a 5 zero figure. Like say, 99,000
Profit over 25 years on a 200k house loaned at 5% through-out is about 150k. So if we had 100k new loans that were perfect that would mean 1.5 billion interest rate gross profit over 25 years if there was no more business (no new mortgages)?
4. Refusetobuy said...
Can anyone smell what the rock is cooking?
5. denzil said...
daopig asked:
>>interested in knowing how many new mortgages would make £20bn
4 semi's in Grimsby I think