References in periodicals archive ?
Pimco has provided financing for previous UKAR transactions, according to the report, which quoted business insiders as saying that the company could potentially team up with another financial transaction as part of the process.
UKAR took over the "bad bank" element of Northern Rock in 2010, two years after the collapse of the Newcastle bank marked the first major sign of the global financial crisis.
UKAR expects to offload the remaining nationalised assets in 2020.
UKAR has GBP11.9bn of customer loans still on its balance sheet.
UKAR said it had cut the balance sheet by another [pounds sterling]14.5bn to [pounds sterling]17.2bn in the year to March 31.
UKAR, which is known as the sector's "bad bank", raised its concerns over rate rises as it published annual figures showing it shrunk its balance sheet to PS23bn, down from as much as PS116bn in 2010.
Most of the 125,000 customers are on a standard variable rate which they have not been able to change, but UKAR said the move will open up the potential for renegotiation of their terms.
The sale represents a PS280m premium over book value at June 30, 2015, according to UKAR, which added that it expects to repay about PS5.5bn of the NRAM Government loan as a result of the transaction.
UKAR, which was established in 2010 to run down the loans made by the two banks,AaAaAeAeAaAeAeA is selling the portfolio of mortgages for 280 million po more than their book value,AaAaAeAeAaAeAeA British Chancellor of the Exchequer Ge Osborne said, in a separate (https://www.gov.uk/government/news/government-agrees-record-breaking-13-billion-sale-of-former-northern-rock-mortgages) statement.
The same source pointed out that the Israeli occupation forces handed summon orders to four Palestinian youngsters: 24-year old Moahmmed Fouad Al-Adawin and his 19-yeard old sibling Ibrahim from al-Ezza Camp in northern Bethlehem and also to 21-year old Hussein Saleh Abu Ukar and also to 20-year old Ibrahim Yasseen Abu Soroor from Ayda Camp in order to report themselves before the Israeli intelligence in Gush Etzion settlement in southern Bethlehem, WAFA concluded its report.
Almost 7% of UKAR's 467,000 mortgage customers - former Northern Rock and Bradford & Bingley borrowers - have already fallen behind with their repayments despite record low rates.
Acronyms browser ?
Full browser ?
- UKAEA Culham
- UKAEA Culham
- Ukaznaia Kniga