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Darren Beddard Group moderator
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Rock to offer £14bn in home loans
Nationalised bank Northern Rock said that it would offer up to £14 billion extra in new mortgages over the next two years to help kick-start the ailing housing market. Skip related content

The firm will offer "responsible" loans for first-time buyers and customers who are remortgaging.

The announcement came as the lender said it expected to make a pre-tax loss of £1.4 billion for 2008.

The state-owned bank said executives and senior management would receive no cash bonuses for 2008 and 2009, apart from payouts obliged under contracts. Their salaries will also be frozen this year.

find out more

http://uk.news.yahoo.com/21/20090223/tuk-rock-to-offer-14bn-...

ifa wealth forum
- 23 Feb 2009, 12:35 pm
Darren Beddard wrote: > Nationalised bank Northern Rock said that it would offer up to £14 > billion extra in new mortgages over the next two years to help > kick-start the ailing housing market. Skip related content > > The firm will offer "responsible" loans for first-time buyers and > customers who are remortgaging. > > The announcement came as the lender said it expected to make a > pre-tax loss of £1.4 billion for 2008. > > The state-owned bank said executives and senior management would > receive no cash bonuses for 2008 and 2009, apart from payouts obliged > under contracts. Their salaries will also be frozen this year. > > find out more > > http://uk.news.yahoo.com/21/20090223/tuk-rock-to-offer-14bn-in-home-loans-6323e80.html > > ifa wealth forum

IFA Wealth Forum

Rock to offer £14bn in home loans