UK to close book on Lehman era with £13bn mortgage sale

Northern Rock 230x150
By Tom Porter
19 Mar 2015

The UK government wants to leverage surging demand for exposure to the country to offload some £13bn of mortgages it acquired from Northern Rock after the collapse of Lehman Brothers, writes Tom Porter.

Bad bank UK Asset Resolution took over the soured mortgage books of Northern Rock and Bradford & Bingley in 2010, with the lofty goal of eventually making taxpayers a profit on their rescue of the failed lenders.

UKAR is now working with Credit Suisse and seeking interest from ...

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