Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Tuesday, March 03, 2009

Northern Rock Mortgage Arrears

The Times reports that Northern Rock (the bank owned by the taxpayers) mortgage arrears have risen by 394% (from 3,492 to 17,264).

Given this situation, and the fact that the housing market has not yet stabilised, how wise is it for the Rock to be offering 90% mortgages?

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