Northern ‘Bad Bank’ Borrowers Hit With Penalties

Homeowners with mortgages held by Northern Rock Asset Management, the U.K. lender’s “bad bank,” are being hit with 3% early-redemption penalties when they buy new properties.

  • 21 Jul 2010
Homeowners with mortgages held by Northern Rock Asset Management, the U.K. lender’s “bad bank,” are being hit with 3% early-redemption penalties when they buy new properties. NRAM had told customers they would be able to transfer their loans if they move, but now says it has no money ...

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