But at the moment there are many people who are watching this programme, who are working incredibly hard, probably about to go out to work right now, and they can’t begin to afford the 25 to 30 per cent deposit they’re being asked these days to buy a house. Now I’m not talking about returning to the days of 125 per cent Northern Rock mortgages.
We took on a 125% mortgage from Northern Rock – at that time it was sold as 'your property will increase in value, so it's no problem'
Northern Rock is increasingly reliant on funding mortgage asset growth from wholesale funding and securitisation, with limited growth in customer deposits [and] the cost of wholesale funding has risen sharply.More quotes »
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Hot Money, Cold Credit - Misguided Monetary Policy
Money matters — it’s a maxim of Prof. Milton Friedman that I repeat often in my columns. Since the Northern Rock bank run of 2007 — the "opening shot" of the financial crisis — the money supply, broadly measured, in the United States, Great Britain, and 5/21/13 from The Market Oracle Read more »
A Report on Northern Rock
And how it was effected by the recent financial crisis | | The effects of the recent financial crises on Northern Rock and its plan for the future. | | Christopher Caudwell | 22/03/2012 | | Table of Contents Introduction 3 Cause of the credit crunch 3 Wh from EssayClub.com Read more »
Boost for Osborne as FTSE hits highest level since start of the financial crisis
Top share index closed up 35.26 points at 6,723.06FTSE returning to levels not seen since collapse of Northern Rock in 2007 Comes after Bank of England governor Sir Mervyn King predicted 'modest but sustained recovery' The stock market last night rose to from This Is Money Read more »
Northern Rock investors won't get compensation rules Court of Appeal
INVESTORS who lost billions when Northern Rock was nationalised to save the banking system from collapse will go without a penny in compensation after a Court of Appeal ruling. New York-based hedge fund, Harbinger Capital Partners, has fought a marathon from JournalLive.co.uk Read more »
Co-op's rating downgraded to junk status
MUTUALLY-owned Co-operative Group has insisted "this is not a Northern Rock situation" after its bank's credit rating was slashed to junk status and the lender's acting chief executive Barry Tootell resigned in the wake of its failure to buy a branch por from Herald Scotland Read more »