Northern Rock Nationalised

7 posts Page 1 of 1
Post Reply
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Sun Feb 17, 2008 5:21 pm
Quote
The Chancellor of the Exchequor announced that Northern Rock is to be nationalised with immediate effect this afternoon. This effectively means that HMG will be responsible for property repossession, mortgage disclosure and debt write-off within the bank, until a buyer can be found.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

cat 1

User avatar
Posts: 597
Joined: Thu Nov 08, 2007 5:42 pm
Location:
Post by cat 1 » Sun Feb 17, 2008 6:03 pm
Quote
the man on the news just told me as well.What does this mean for people who have thier mortgage with them? Cat
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Sun Feb 17, 2008 6:08 pm
Quote
You will carry on making the payments in the usual manner and there is nothing to worry about. All it means is that the bank has come under HMG control until it can be packaged up properly for sale. The average borrower is unlikely to be affected.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

olympic_torch

User avatar
Posts: 1307
Joined: Mon Jan 08, 2007 12:59 am
Location:
Post by olympic_torch » Mon Feb 18, 2008 12:15 am
Quote
just fast forward a few weeks after nationalisation till the first northern rock mortgagee is reposessed.
the press will have a field day.
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
Top
 
 

PoorbutHappy

User avatar
Posts: 96
Joined: Mon Feb 12, 2007 6:35 pm
Location: United Kingdom
Post by PoorbutHappy » Mon Feb 18, 2008 7:31 am
Quote
Hey if they govt owned now.....could always try a online petition!
Top
 
 

Mike74

User avatar
Posts: 41
Joined: Thu Dec 13, 2007 11:41 am
Location: United Kingdom
Post by Mike74 » Mon Feb 18, 2008 4:57 pm
Quote
Surely a now Government backed organistation will not reject Government legislated policy in the form of IVA's? Can those whom have had their IVA's rejected solely based on Northern Rock's refusal, now reapply with some degree of confidence?
"I will creep into your thoughts like a bad debt, that you can't pay, take the easy way out - and give in." Morrissey.
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Feb 19, 2008 1:48 am
Quote
The next few weeks will be interesting Mike, but I suspect that the bank will still vote with their commercial head on, so do not expect to see much change to be frank.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
7 posts Page 1 of 1
Return to “Latest IVA News”