TITLE

NR plans to cut its volumes by £40bn

AUTHOR(S)
Bettelley, Clare
PUB. DATE
March 2008
SOURCE
Mortgage Strategy;3/10/2008, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plan of the British government-owned bank Northern Rock PLC (NR) to reduce its gross mortgage volumes by £40 billion in the next three years. In line with the plan, the bank is rebroking its existing business and is sending letters to existing customers that make deal expiry dates clear. Meanwhile, one broker said NR's statements may be misunderstood by average brokers as requests for them to exit their loans.
ACCESSION #
31401696

 

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