Wednesday, August 27, 2008

number of repossessions higher at NR

New fears over quality of Northern Rock mortgages

The number of repossessions and the value of problem mortgages in Northern Rock's £40bn securitisation vehicle Granite, which holds the bank's better loans, have jumped far more sharply than at rivals, according to research by credit rating agency Standard & Poor's. Of Granite's total of £40bn of mortgages, £508m of them are behind with repayments, S&P said.

Posted by mountain goat @ 10:37 PM (651 views)
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One thought on “number of repossessions higher at NR

  • 8% in arrears already – they’re not going to catch up are they. Bet that figure is 50% within a year.

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