2007-09-15 22:50:49 · 7 answers · asked by danush_perera 1 in Business & Finance ➔ Personal Finance
Nothing will happen except their mortgages will be transferred to the new owners. These mortgages and all other loans are assets of the business - however Northern Rock won't go bankrupt - another company will take advantage of the low share price and buy it.
2007-09-15 23:03:49 · answer #1 · answered by Johnny 7 · 1⤊ 0⤋
Well I am Northern Rock customer and I understand that NR is being sold off to several investment companies. Personally, nothing will change financially, although my future mortgage statements will probably arrive under different letter-headed paper.
2007-09-16 00:57:09 · answer #2 · answered by ipoian 5 · 0⤊ 0⤋
While NR have a lot of mortgage holders that owe them money they will not go bankrupt as these payment still will be made.
2007-09-15 23:52:10 · answer #3 · answered by ANF 7 · 0⤊ 0⤋
This is all the fault of the Chancellor of the exchequer.
Hes Friends will just sell your mortgage to another debt ridden bank, And you will pay the extra for the privilege My mortgage was taken out with a reputable Bank. lol
Now its been sold twice to a company that i know nothing about.
Its Morales its social commitment or its eco freindly status.
2007-09-15 23:21:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i think of your very own loan may be taken on via whoever buys over Northern Rock(if that happens!!!). you may proceed paying the interior maximum loan decrease than the comparable words. i think of the only people who would desire to be fearful with regard to the placement are people who've invested/saved with NR. Did you notice on the information how lots their shares went down the day gone by?? 639p - 33p.
2016-12-26 12:52:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I think the assets are backed up by the BoE
2007-09-15 22:55:20 · answer #6 · answered by 2012 4 · 1⤊ 0⤋
your mortgage cover will come enforce
2007-09-15 22:59:07 · answer #7 · answered by Perfectionist 6 · 0⤊ 0⤋