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Home Mortgage Refinance - News Articles
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Aug 5, 2008
guardian.co.uk, UK -
Northern Rock admitted this morning that it lost almost £600m in the first half of this year as the weakening economy pushed more of its borrowers into arrears and said it would be "significantly loss-making" throughout 2008. In a further sign that the UK housing ... -
Aug 5, 2008
Reuters UK, UK -
LONDON, Aug 5 (Reuters) - UK government-owned bank Northern Rock said it made a 585 million pound ($1.15 billion) loss in the first half of this year as bad ... -
Aug 5, 2008
Bloomberg -
By Poppy Trowbridge Aug. 5 (Bloomberg) -- Northern Rock Plc, the British bank that was nationalized in February after a run on deposits, had a first-half ... -
Aug 5, 2008
Times Online, UK -
The Government's financial track record suffered a fresh dent today as it emerged it was preparing to write off up to £3 billion of taxpayer-funded loans to ... -
Aug 5, 2008
International Herald Tribune, France -
AP LONDON: Nationalized British bank Northern Rock on Tuesday reported a net loss of 592 million pounds (US$1.2 billion) in the first-half of the year, ... -
Aug 5, 2008
Reuters UK, UK -
By Steve Slater LONDON (Reuters) - The government is providing extra capital to state-owned bank Northern Rock, which Tuesday reported a first-half loss of ... -
Aug 5, 2008
Times Online, UK -
Chancellor Alistair Darling today warned that the slowdown in the UK economy will be more prolonged than the Government had initially anticipated a year ago ... -
Aug 5, 2008
Telegraph.co.uk, United Kingdom -
Alistair Darling has promised a package of measures to help consumers weather the credit crisis and refused rule out suspending stamp duty on house purchases. ... -
Aug 5, 2008
The Press Association -
Northern Rock unveiled losses of £585.4 million so far this year as more of its customers failed to keep up with their mortgage payments. The nationalised lender said it suffered a bad debt hit of £191.6 million during the six months to ... -
Aug 5, 2008
MarketWatch -
By Simon Kennedy, MarketWatch LONDON (MarketWatch) -- Northern Rock lost 592.2 million pounds ($1.2 billion) in the first half of 2008 as the number of borrowers struggling to keep up with repayments surged, the nationalized U.K. mortgage lender said Tuesday. ...
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Aug 5, 2008
Bloomberg -
By Gonzalo Vina and Poppy Trowbridge Aug. 5 (Bloomberg) -- Northern Rock Plc, the first British bank to suffer a run in 150 years, will receive as much as 3.4 billion pounds ($6.7 billion) from the government, as house prices decline and repossessions soar. ... -
Aug 5, 2008
Wall Street Journal -
By PAUL HANNON LONDON -- Nationalized mortgage lender Northern Rock Tuesday said it has cut its debt to the Bank of England but, following large losses in ... -
Aug 5, 2008
CNNMoney.com -
LONDON -(Dow Jones)- The UK government will convert up to GBP3 billion in debt owed by Northern Rock into shares in the nationalized mortgage lender. The move was announced by Northern Rock Tuesday, but is subject to approval by the European ... -
Aug 5, 2008
guardian.co.uk, UK -
By Steve Slater and Clara Ferreira-Marques LONDON, Aug 5 (Reuters) - Britain has been forced to provide up to 3 billion pounds of extra capital for state-owned Northern Rock as the housing market worsens and the bank reported a 585 million pound loss and soaring ... -
Aug 5, 2008
Telegraph.co.uk, United Kingdom -
By Philip Aldrick, Banking Editor The taxpayer is to pump another £3bn into Northern Rock after falling house prices and problem loans pushed the struggling state-owned lender into a £585m loss for the six months to June. ... -
Tuesday, August 05, 2008
guardian.co.uk, UK -
Critics claimed today that taxpayers' money is at risk as the government pumped £3.4bn into Northern Rock after the dramatic deterioration in the housing market helped drive the nationalised lender to a near £600m loss . The Newcastle-based bank admitted that ... -
Tuesday, August 05, 2008
Telegraph.co.uk, United Kingdom -
By Robert Winnett, Deputy Political Editor Taxpayers are to provide more than £3 billion to Northern Rock which is unlikely to ever be repaid in another emergency bail-out package to keep the nationalised bank in business. ... -
Tuesday, August 05, 2008
The Press Association -
The Government has taken further steps to shore up Northern Rock's balance sheet after the lender unveiled half-year losses of almost £600 million. Treasury officials are providing up to £3 billion of extra share capital for the recently-nationalised bank to help ... -
Tuesday, August 05, 2008
AFP -
LONDON (AFP) — Nationalised British bank Northern Rock said Tuesday that the state would boost its capital by 3.0 billion pounds (3.7 billion euros, 5.9 billion dollars) after it suffered a first-half loss of 592 million pounds. The group, which was nationalised ... -
Tuesday, August 05, 2008
Telegraph.co.uk, United Kingdom -
By Robert Winnett, Deputy Political Editor Under banking rules, Northern Rock has to have a certain amount of money in its reserves to continue in business. It needs more capital and therefore the Government has agreed to swap more than £3 billion of loans for ...
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