|
|
Article: Market Ponders Life for Granite After Northern Rock.(Northern Rock PLC)
- Article from:
- Asset Securitization Report
- Article date:
- October 8, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The embattled U.K. bank, Northern Rock, is living on borrowed time. All signs point to a takeover, even if the bank itself continues to send out mixed signals and is rumored to have appointed an administrator in the event of a breakup or a wind-down. Questions remain, however, about the future of the Granite Master Trust.
Northern Rock is determined to present itself as a business as usual entity, despite its recent loss of retail customers. Last Thursday, Northern Rock introduced a simplified mortgage-product lineup to draw more customers. The bank has simplified its LTV tier rates and withdrawn its 18-month fixed rates for all types of mortgage products except ...