Tuesday, 3 March 2009

one in twenty "together" mortgages in arrears

(click on the table for a larger image)

I cut this table out of the Northern Rock annual report. It tells us three things;

  • Arrears on NRK loans are significantly higher than industry averages;
  • Arrears rates are getting worse;
  • Almost 1 in 20 "together" mortgages are in arrears.

    The NRK loan book is rotten, and it belongs to the UK taxpayer.
  • 1 comment:

    Roy said...

    Ah yes, I wondered what happened to the together mortgage -125% LTV. It was a product that was certain to destroy NRK.