GC Asia
Granite step-up leads to reserve draw as arrears increase
Northern Rock posted a half year loss of £724.2m this week as mortgages more than three months in arrears rose to 3.9%, up a percentage point from December.
These high arrears levels have caused the UK lender’s older Granite securitisations to draw on their reserve fund, although the absolute ...Please take a trial or subscribe to access this content.
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