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thecrashingisles

Northern Rock Sale To Happen As Early As Next Month

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http://blogs.news.sky.com/kleinman/Post:2d525b05-d5bc-4120-887f-e6b059047ddc

Northern Rock, the mortgage lender nationalised in 2008 after seeking emergency funding to keep it afloat, may be put up for sale by ministers as soon as next month, I have been told this morning.

Following a board meeting of UK Financial Investments (UKFI) on Thursday afternoon, I'm told that the Treasury is considering making an announcement as early as next week about its plans to return the bank to private sector ownership.

As regular readers of this blog will know, I've written about the Government's deliberations about an auction of Northern Rock several times in recent weeks.

Senior Whitehall insiders have confirmed to me that the Treasury is preparing a statement setting out the process through which UKFI will seek a buyer for Northern Rock.

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This is a strong indicator, I would suggest, that he government is expecting a major downturn in the economy due shortly and are getting the sale in while there is still a relatively good price to be had.

lets hope the government also sell of there stakes in the other banks LloydsHBOS, RBS etc etc let the market be free again and lets get this crash over and done with once and for all!

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This is a strong indicator, I would suggest, that he government is expecting a major downturn in the economy due shortly and are getting the sale in while there is still a relatively good price to be had.

Yep. Get the sale through before the collapse of the anglo-US banking cartel.

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Must be one of the reasons they offer the best savings rates around at the moment, to try and get some money in, to make it appeal to a new buyer.

I got 3.01% on an instant acess esaver, http://www.northernrock.co.uk/savings/existing/historic-products/E-Saver

and I see they now offer 4% on their regular branch saver. but you can only withdraw £500 at a time on that one. http://www.northernrock.co.uk/savings/find/savings-accounts/Regular_Saver_Issue_3

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The government no longer need to support Northern Rock..... because it is a Labour heart land, they'll instead pork barrel their own constituencies while pocketting lots of brown envelopes.

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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