Tuesday, March 3, 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.
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    1 comment:

    1. RoyMarch 3, 2009 at 9:22 AM

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

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